Singapore Gulf Bank announced on 12 October that it had added BNY’s 24/7 USD Book Transfers service. Qualifying dollar payments can settle outside US banking hours between eligible BNY accounts or accounts at correspondent banks enrolled in the service. The announced scope covers corporate and retail clients.[1]
For trading businesses, eligible destinations determine how much prefunding the service could replace. Continuous availability is useful where a firm’s actual payments can travel through the connection.[1]
The October addition builds on an existing bank relationship
April brought SGB into BNY’s correspondent banking network for dollar clearing. October adds a defined book-transfer capability to that existing relationship.[3][1]
The bank has also been building its own network. SGB Net launched in May 2025 with real-time transfers among network participants, including digital-asset businesses. The launch described connections for exchanges, market makers, prime brokers and other counterparties, together with API-supported treasury and payment workflows.[4]
Which connection moves the money?
| Connection | Scope stated by the provider | Operational boundary |
|---|---|---|
| BNY 24/7 USD Book Transfers | Qualifying dollar transfers through eligible direct or correspondent accounts. | Both accounts must be within the enrolled service.Source 1 |
| Payward through SGB Net | Initially US dollars for selected institutional clients in specified jurisdictions. | A defined bank-to-platform connection.Source 2 |
| SGB’s general bank-transfer routes | SWIFT and selected partner networks. | Timing varies with the network, destination and checks.Source 5 |
Payward funding is live; the liquidity expansion follows
On 5 October, SGB and Payward, the infrastructure company behind Kraken, announced that Payward had integrated SGB Net. Eligible SGB clients can deposit funds with Payward around the clock. The release separately says SGB will onboard Kraken Prime and, over the coming months, use Payward’s markets to price trades for its own customers.[2]
Moving cash to a trading platform and obtaining prices from a liquidity provider solve different problems. The first changes when a client can fund activity; the second changes how a service sources execution. Their business benefits can reinforce one another, but one completed connection does not establish that the entire planned trading arrangement is already operating.
The remaining constraint is the destination
SGB’s general FAQs still describe transfer times that vary by network and receiving bank. They also identify compliance checks as a reason a payment may remain pending. Account and product availability depend on the customer’s jurisdiction and eligibility. Those general conditions sit alongside the narrower October service announcements.[5]
The practical treasury question is consequently specific: which cash movements can now be completed when markets are open, and which still require prefunding? A firm can map its regular counterparties against the available connections and measure how much idle cash the change actually releases. The value of continuous settlement comes from that reachable network, not from the clock alone.
Sources & further reading
- SGB expands USD payments through BNY Singapore Gulf Bank · 12 Oct 2026 · Accessed 21 Oct 2026
- Payward connection and planned Kraken Prime liquidity access Singapore Gulf Bank / Payward · 5 Oct 2026 · Accessed 21 Oct 2026
- SGB joins BNY’s correspondent network Singapore Gulf Bank · 7 Apr 2026 · Accessed 21 Oct 2026
- SGB Net launch and initial network scope Singapore Gulf Bank · 1 May 2025 · Accessed 21 Oct 2026
- Account eligibility and payment-route FAQs Singapore Gulf Bank · Accessed 21 Oct 2026