Payward, the financial infrastructure company behind crypto exchange Kraken, integrated Singapore Gulf Bank’s real-time clearing network to enable institutional clients to settle qualifying digital-asset transactions around-the-clock and fund trading even on a non-banking day.
The service begins with U.S. dollar transactions for a select group of clients in eligible Asian and Gulf region jurisdictions, Payward announced on Sunday.
Mark Greenberg, Payward’s chief commercial officer, explained the deal targets a fundamental issue affecting crypto markets. While assets trade all weekend and around the clock, the cash that funds those trades often remains subject to bank cut-off times and multi-day settlement. SGB Net allows clients to deposit funds with Payward and use them immediately.
“Exchanges, payment providers, OTC desks and fintechs all run into the same banking constraint: settlement stops when the business day does, while…
