Kraken-Singapore Gulf Bank deal targets APAC institutional settlement

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What happened

Kraken's operating entity, Payward, has partnered with Singapore Gulf Bank to offer 24/7 institutional crypto settlement denominated in USD. The service launches to a select group of institutional clients in Asia and the Gulf region. The partnership combines Payward's crypto infrastructure with Singapore Gulf Bank's regulated banking layer to enable continuous settlement outside conventional banking windows.

Why it matters

Conventional correspondent banking operates on cut-off times. For institutions managing cross-border treasury flows across Asia-Pacific and the Gulf, weekend gaps and time-zone mismatches create real exposure windows. A 24/7 USD settlement rail backed by a regulated bank addresses a structural problem, not a marginal convenience.

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Sources: CoinDesk

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