Payward Connects Kraken Prime to Singapore Gulf Bank Settlement Network
The partnership is designed to provide round-the-clock settlement for some institutional clients in parts of Asia and the Gulf, initially for select U.S. dollar transactions.
Payward, the parent company of Kraken, has connected to Singapore Gulf Bank’s real-time clearing network to offer round-the-clock settlement for institutional digital asset clients in parts of Asia and the Gulf.
The initial service will support U.S. dollar transactions for some clients in select jurisdictions. Payward plans to expand the client base and add other currencies over time.
Singapore Gulf Bank will also connect to Kraken Prime, Payward’s institutional platform, to access digital asset liquidity for pricing trades for its own customers. The arrangement links the bank’s settlement network with Payward’s institutional trading services.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.