SoFi Technologies and Kraken parent Payward have entered a partnership that links SoFi’s banking and settlement infrastructure with Kraken’s digital asset trading services.
Under the agreement, Payward will join the SoFi Exchange Network (SEN), enabling eligible institutional clients to access real-time U.S. dollar transfers and settlement around the clock. The move is designed to improve liquidity management by allowing transactions outside traditional banking hours. Uniswap
Kraken will also list SoFiUSD, SoFi’s dollar-backed stablecoin, giving retail, professional and institutional users access to the asset beyond SoFi’s own platform. SoFiUSD is designed to maintain a one-to-one redemption value with the U.S. dollar and was initially launched on Ethereum and Solana.
In addition, SoFi will use Kraken Prime as an additional source of liquidity and execution for cryptocurrency trades placed through its platform. Kraken Prime aggregates liquidity across multiple venues, helping optimize trade execution based on market conditions and available liquidity.
The companies said the partnership could expand further to include services such as qualified custody, payments, treasury management, lending and other digital asset products, although no timeline has been announced.
The collaboration brings together two firms that have been expanding their presence in digital assets. SoFi has been building banking, stablecoin and blockchain-based settlement services, while Kraken has broadened its offerings beyond crypto trading into institutional brokerage, derivatives and other financial products.
SoFi shares closed at approximately $18.51 on Sept. 3, up 3.7% on the day. However, there is no confirmed evidence linking the stock’s gain directly to the partnership announcement.
