Payward, the parent company of Kraken, has entered a strategic partnership with Singapore Gulf Bank, a digital bank regulated by the Central Bank of Bahrain. Under the arrangement, Payward has connected to SGB Net, the bank’s real-time multi-currency clearing network, to provide 24/7 instant settlement for institutional clients in selected jurisdictions across Asia and the Gulf region. The service will initially support U.S. dollar transactions for some clients, with plans to expand both client coverage and supported currencies over time. Separately, Singapore Gulf Bank will connect to Kraken Prime to access digital asset liquidity and use that liquidity for pricing trades for its own clients. The item was carried by Techub News and attributed to Wu Blockchain.
Payward, the parent company of Kraken, has formed a strategic partnership with Singapore Gulf Bank, a digital bank regulated by the Central Bank of Bahrain, according to Techub News.
Payward connects to SGB Net
As part of the deal, Payward has joined SGB Net, Singapore Gulf Bank’s real-time multi-currency clearing network. The setup will provide 24/7 instant settlement for institutional clients in selected jurisdictions in Asia and the Gulf region.
U.S. dollar support comes first
The service will initially cover U.S. dollar transactions for some clients. The two sides plan to gradually broaden the client base and add support for other currencies.
SGB to use Kraken Prime liquidity
Singapore Gulf Bank will also connect to Kraken Prime, Payward’s prime brokerage platform, to access digital asset liquidity and price trades for its own clients.
The report was attributed to Wu Blockchain.
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