According to CoinMeta, Payward and Bank of Singapore Gulf (SGB) have announced a collaboration aimed at solving the long-standing issues of fiat settlement in the crypto market. This partnership connects the institutional trading infrastructure of Payward with SGB's real-time clearing network, allowing qualified institutional clients to settle transactions instantly at any time. The initial services cover the US dollar, and in the future, they will be extended to more currencies and clients. SGB has obtained permission and regulation from the Central Bank of Bahrain and is supported by Bahrain's Mumtalakat and Singapore's Whampoa groups. The network was launched in 2025 and currently processes over $20 billion in fiat transactions per month.