Payward and Singapore Gulf Bank Launch 24/7 Crypto Settlement for Institutions
- Payward integrated Singapore Gulf Bank’s real-time clearing network for institutional clients.
- The service allows U.S. dollar transactions to settle continuously, even on non-banking days.
- Initial rollout targets select clients in eligible Asian and Gulf region jurisdictions.
- Mark Greenberg, Payward’s chief commercial officer, highlighted banking constraints affecting crypto markets.
- Payward is expanding its services beyond Kraken into trading, custody, payments, and banking infrastructure.
This partnership addresses the challenge of cash settlement times lagging behind the continuous trading of digital assets. By utilizing SGB Net, clients can deposit funds with Payward and access them immediately for transactions.
The integration aims to enhance operational efficiency in the crypto market by enabling around-the-clock settlements starting with U.S. dollar transactions for select clients.(Source)
