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

Key Takeaways

• Payward, Kraken's parent company, has connected to Singapore Gulf Bank's SGB Net clearing network.
• The partnership enables 24/7 US-dollar funding for institutional clients in Asia and the Gulf.
• The connection allows participating clients to deposit cash with Payward and use it immediately.
• The partnership also plans to use Payward markets to price digital asset trades for SGB customers over the coming months.

Market & Token Impact

• The partnership is expected to increase liquidity for institutional clients in the region.
• The 24/7 funding option is likely to reduce settlement times for digital-asset transactions.
• The expansion plans for the partnership are expected to add more clients and currencies over time.

Broader Context & What's Next

• The partnership is part of a broader trend of institutional investors seeking 24/7 market access.
• The expansion plans for the partnership are expected to be driven by the growing demand for digital assets in the region.
• The next developments to watch are the start of SGB's customer-pricing use and the addition of settlement clients and currencies.