4, 3, 2, Settle-ment: Kraken Parent Rolls Out 24/7 Dollar Rails via SGB Net 🏦

Kraken's parent Payward has integrated Singapore Gulf Bank's SGB Net real-time clearing infrastructure to deliver always-on U.S. dollar settlement for institutional digital asset clients, according to an announcement dated October 5. The integration covers a select group of clients in supported jurisdictions, with plans to expand to additional clients and currencies. Institutional clients of both firms can settle qualifying trades instantly and 24/7, removing the multi-day waits associated with traditional bank cut-off times.

SGB Net is the real-time multi-currency clearing network operated by Bahrain-regulated Singapore Gulf Bank. Through the integration, an SGB client can deposit funds with Payward and deploy them at any hour. Payward said settlement starts with U.S. dollar transactions and will extend to more currencies and counterparties over time.

Alongside the settlement link, Singapore Gulf Bank is onboarding Kraken Prime, Payward's institutional prime brokerage, as an additional source of digital asset liquidity. The bank will also use Payward's markets to price customer trades in the coming months. Payward said the rollout forms part of its broader push into institutional services following Nasdaq's reported $100 million investment in Payward at a $21 billion valuation, referenced in coverage on September 21.

The SGB Net integration lands against a backdrop of competing bank-led initiatives aimed at extending settlement beyond business hours. A consortium including JPMorgan Chase, Bank of America and Barclays is preparing a tokenized deposit network operated by The Clearing House for launch in the first half of 2027 to enable 24/7 settlement. In Japan, Circle and Nomura have reportedly partnered to offer companies instant foreign exchange settlement from 2027. The Bank of Korea on September 21 unveiled a pilot project to let foreign investors settle won transactions outside regular banking hours.