Singapore Gulf Bank | Crypto

Payward's SGB Net link supports round-the-clock US-dollar funding in eligible jurisdictions, while SGB customer-trade pricing is planned for coming months. The post Kraken parent joins Singapore Gulf Bank, opening 24/7 institutional dollar rails appeared first on CryptoSlate.

The partnership will enable select institutions in Asia and the Gulf region to instantly settle US dollar transactions through the bank’s SGB Net Kraken parent company Payward has partnered with Singapore Gulf Bank (SGB) to enable 24/7 US dollar settlement for select institutional clients in Asia and the Gulf region.  Payward has integrated SGB Net, the Bahrain-regulated bank’s real-time clearing network, allowing those clients to settle transactions instantly. The companies plan to expand the service to more clients and currencies, according to a Monday press release. The bank will also access digital asset liquidity through Payward’s prime brokerage service, Kraken Prime, and use Payward’s markets to price customer trades in the coming months. Read more

The Bahrain-based lender lets institutional clients convert fiat currency to US dollar-pegged stablecoins directly from their accounts. Singapore Gulf Bank (SGB) has introduced a service that lets institutional clients mint and redeem stablecoins directly from their bank accounts, using the Solana layer-1 blockchain network to enable round-the-clock settlement between fiat and digital assets. The service will initially support Circle USDC (USDC) transactions above $100,000 and includes temporary fee waivers for minting and redemption on the Solana network, according to SGB’s announcement. Additional assets such as Tether’s USDT (USDT), Ethena’s USDe (USDe) and Global Dollar (USDG) are expected to follow, the company said. Read more