Kraken parent joins Singapore Gulf Bank, opening 24/7 institutional dollar rails

Kraken's parent company, Payward, has connected to Singapore Gulf Bank's SGB Net clearing network, opening round-the-clock US-dollar funding for selected institutional clients in Asia and the Gulf.The companies say participating clients in eligible jurisdictions can deposit cash with Payward and use it immediately.In their release dated Oct. 5, the companies describe an initial dollar settlement offering. SGB also plans to use Payward markets to price digital asset trades for its own customers over the coming months, giving the partnership a live funding service and a separate planned trading component.Through SGB Net, participating SGB clients can fund Payward accounts at any hour, the companies say. The dollar connection is available 24 hours a day, seven days a week. Its immediate practical benefit is greater flexibility over when those institutions move cash for digital-asset activity.The releases do not name participating clients or list eligible countries, so they do not provide an institution outside that group with a country-by-country guide to availability. The reference to Asia and the Gulf describes the regional focus, while the jurisdiction restrictions limit where the ...