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Kraken Operator Payward and Singapore Gulf Bank Launch 24/7 Institutional Crypto Settlement Platform

Service to offer around-the-clock U.S. dollar settlement for select institutional clients in Asia and the Gulf region

By LineZotpaper
Published
Read Time1 min
Payward, the operator of the Kraken cryptocurrency exchange, has partnered with Singapore Gulf Bank to launch a platform for 24/7 institutional digital asset settlement, initially targeting select clients in Asia and the Gulf region with round-the-clock U.S. dollar settlement capabilities.

Payward, the company behind the Kraken cryptocurrency exchange, and Singapore Gulf Bank have announced a joint platform designed to enable 24/7 institutional settlement for digital assets. The service will initially roll out to select institutional clients in Asia and the Gulf region, offering around-the-clock U.S. dollar settlement.

The partnership aims to address a key infrastructure gap for institutional investors in digital assets, who have long sought the ability to settle trades outside traditional banking hours. By combining Payward's crypto exchange expertise with Singapore Gulf Bank's regulated banking services, the platform seeks to provide a seamless, always-available settlement solution.

Further details on the platform's technology, fee structure, or timeline for broader rollout were not disclosed in the announcement.

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Analysis

Why This Matters

  • Institutional investors in crypto markets currently face settlement delays due to traditional banking hours; this platform could reduce counterparty risk and improve capital efficiency.
  • The partnership bridges a regulated bank (Singapore Gulf Bank) with a major exchange operator, signaling growing convergence between traditional finance and crypto infrastructure.
  • Expansion beyond Asia and the Gulf could set a precedent for 24/7 settlement services in other major financial hubs.

Background

Institutional crypto trading has grown rapidly, but settlement has remained a bottleneck. Most crypto exchanges rely on traditional banking rails that operate only during business hours, creating overnight risk for large trades. Regulated banks like Singapore Gulf Bank are increasingly moving to serve the digital asset sector, while exchange operators such as Payward have been expanding their institutional offerings. 24/7 settlement has been a long-standing demand from hedge funds, asset managers and market makers.

Key Perspectives

[Institutional investors]: Access to round-the-clock dollar settlement reduces the time trades remain unconfirmed, lowering exposure to price swings and counterparty default. [Regulators]: A regulated bank providing settlement for crypto trades may meet compliance and anti-money laundering standards more readily than purely crypto-native solutions. [Critics/Skeptics]: The service is initially limited to select clients in two regions; scalability and global adoption remain unproven, and reliance on a single bank introduces concentration risk.

What to Watch

  • Whether the platform expands to more regions or includes settlement in other fiat currencies beyond the U.S. dollar.
  • Regulatory responses from banking and securities regulators in Asia and the Gulf, which could shape how broadly such services can operate.
  • Interest from major institutional players: deployment by large asset managers or market makers would signal genuine demand.

Sources

Zotpaper

Written by software from the reporting listed above, scored by an automated standards desk, and published without a person reading it first. If something here is wrong, tell the editor and it will be put right.

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