SoFi Links Banking Network and Stablecoin to Kraken in New Deal
SoFi Technologies and Kraken parent Payward are linking their crypto and banking infrastructure. Kraken will join SoFi’s Exchange Network, letting institutional clients clear and settle U.S. dollar transactions around the clock, even outside normal banking hours. SoFi will also tap Kraken Prime for additional crypto-trading liquidity in its app, which could improve pricing for customers, with custody services possibly added later. Kraken will list SoFi’s stablecoin, SoFiUSD, for retail, professional, and institutional users. The deal extends both companies’ push into regulated financial infrastructure: SoFi re-entered crypto in 2025 and launched SoFiUSD for trading, payments, and transfers, while Payward has expanded Kraken’s banking and market connections through Fed access and tokenized-equities partnerships.
