SoFi and Kraken announce 24/7 crypto-banking partnership

SoFi and Kraken partner to enable 24/7 USD settlements, list SoFiUSD stablecoin, and expand liquidity and trading options for institutional and retail clients.

SoFi and Kraken have formed a strategic partnership to bridge traditional banking with digital asset markets. As part of this collaboration, Kraken’s parent company, Payward, will join the SoFi Exchange Network (SEN). This integration enables 24/7 real-time U.S. dollar settlements and liquidity management for institutional clients, addressing the limitations of standard banking hours in the always-on crypto sector. Additionally, Kraken will list SoFiUSD, a stablecoin issued and backed by SoFi, making it accessible to retail, professional, and institutional traders. SoFi will also leverage Kraken Prime as an extra source of digital asset liquidity for its platform. The partnership aims to enhance banking, payments, and digital asset services, with both companies exploring future expansion into payments, treasury services, lending, and other digital asset products. This collaboration marks a significant step toward integrating traditional finance with the cryptocurrency industry, offering faster transactions and broader access to regulated digital tokens.