Kraken Parent Partners with Singapore Gulf Bank for 24/7 Dollar Settlements

VERA Brief

AI-generated. Grounded in the article and its cited sources.

Payward Group, the parent company of Kraken, has partnered with Singapore Gulf Bank to offer 24/7 instant US dollar settlement to select institutions in Asia and the Gulf region. This collaboration aims to streamline cross-border financial transactions.

Key facts

• Payward Group, the parent company of Kraken, has partnered with Singapore Gulf Bank.
• The partnership will provide select institutions in Asia and the Gulf region with 24/7 instant US dollar settlement capabilities.
• The service will be facilitated through Singapore Gulf Bank’s SGB Net platform.
• The agreement aims to streamline cross-border financial transactions for institutional participants.