Kraken parent Payward partners with Singapore Gulf Bank to offer institutional clients in Asia and the Gulf instant 24/7 settlement for digital asset trades.
DeFi & Yields ·
Payward, the parent company of cryptocurrency exchange Kraken, has partnered with Singapore Gulf Bank to provide institutional clients across Asia and the Gulf region with around-the-clock settlement capabilities for digital asset trades. The arrangement enables instant 24/7 settlement, addressing a key operational requirement for institutional market participants in those regions.
The partnership targets institutional clients seeking seamless settlement infrastructure, particularly those operating across Asian and Gulf markets where regulatory frameworks and banking relationships vary significantly. By pairing Kraken's exchange infrastructure with Singapore Gulf Bank's banking capabilities and regional presence, the partnership aims to reduce friction and settlement delays that have historically constrained institutional participation in digital asset trading in these jurisdictions.
The extent to which this settlement capability will be adopted, what asset classes or trading volumes it will initially support, and whether additional regional banks or exchanges may join similar initiatives remain unclear. Specific launch timelines and fee structures for the service have not been disclosed.