Kraken Parent Links to Bank for 24/7 Institutional Dollar Access

Kraken's parent company, Payward, has integrated with Singapore Gulf Bank's (SGB) SGB Net clearing network, enabling institutional clients in Asia and the Gulf to access US-dollar funding 24/7. This new service allows eligible clients to deposit cash with Payward and use it immediately for digital asset activities, offering enhanced flexibility in managing funds.

The partnership establishes a direct dollar settlement route, with SGB Net now handling Payward’s institutional dollar transfers. Looking ahead, Singapore Gulf Bank plans to leverage Payward's market expertise to price digital asset trades for its own customers, creating a dual offering of live funding and a future trading service.

While the initial rollout is focused on US dollars for select institutions, both companies intend to expand the service over time. Future plans include onboarding more clients and eventually supporting additional currencies beyond the US dollar, broadening the scope of this institutional financial infrastructure.