Kraken Operator Payward Partners With Singapore Gulf Bank for Round-the-Clock Institutional Crypto Settlement
Payward, the operator behind Kraken, has partnered with Singapore Gulf Bank to launch a 24/7 institutional digital asset settlement service. The offering will initially target select institutional clients across Asia and the Gulf region, with continuous U.S. dollar settlement as a core feature. The move signals growing infrastructure investment aimed at bridging traditional banking and crypto markets for institutions.
Payward, the entity that operates the Kraken exchange, has entered a partnership with Singapore Gulf Bank to deliver round-the-clock digital asset settlement for institutional clients. The service launches first in Asia and the Gulf region, two markets where demand for always-on financial infrastructure has grown alongside increased institutional participation in digital assets.
The arrangement centers on uninterrupted U.S. dollar settlement, addressing one of the persistent friction points for institutions that operate across time zones and cannot rely on traditional banking hours. By anchoring the service to dollar settlement, the partners aim to reduce counterparty and timing risk for large participants moving in and out of digital assets.
While the announcement does not specify XRP or RLUSD as settlement instruments, the broader theme of institutional crypto settlement infrastructure is directly relevant to the XRP ecosystem. Ripple has long positioned XRP and its payment rails as solutions to exactly the kind of cross-border, around-the-clock settlement gap this partnership is designed to fill. Developments that normalize institutional demand for 24/7 crypto settlement can expand the addressable market for XRP-based solutions.
Key facts
- •Payward (Kraken operator) and Singapore Gulf Bank announced a partnership for 24/7 institutional crypto settlement
- •Service initially available to select institutional clients in Asia and the Gulf region
- •Settlement is denominated in U.S. dollars and operates around the clock
- •No specific mention of XRP or RLUSD as settlement instruments in the announcement