Kraken parent Payward partners with SoFi on stablecoin, 24/7 settlement
Kraken parent Payward has partnered with SoFi to link crypto trading with SoFi’s 24/7 dollar settlement network. SoFiUSD, the dollar-backed stablecoin issued by SoFi Bank, will be available on Kraken, while Payward will join the SoFi Exchange Network and gain access to SoFi business banking services. Kraken institutional and business clients will also be able to use SEN for round-the-clock U.S. dollar settlement, and qualified custody services may be added later. SoFi will route crypto orders through Kraken Prime, giving it access to liquidity across multiple venues instead of a single order book. The deal deepens Payward’s push into traditional finance, following moves such as tokenized equity offerings and other products that bridge crypto and mainstream markets, as the company prepares for a possible future public listing.
