SoFi taps Kraken Prime and lists SoFiUSD

SoFi Technologies and Kraken parent Payward announced a partnership on Sept. 3 connecting SoFi’s banking and dollar-settlement services with Kraken’s digital asset trading infrastructure. Summary Payward will join SoFi’s real-time settlement network, enabling round-the-clock U.S. dollar transfers for institutional clients. Kraken will list SoFiUSD, extending access to SoFi’s dollar-redeemable bank-issued stablecoin across its trading platform. SoFi will route digital asset orders through Kraken Prime as an additional source of liquidity. Qualified custody may follow as the partnership expands, but neither company provided a deployment timetable. SOFI closed near $18.51 after rising 3.7%, without evidence attributing gains solely to partnership news. Payward will join the SoFi Exchange Network, known as SEN, while Kraken will list the SoFiUSD stablecoin. SoFi will use Kraken Prime as an additional liquidity and execution provider for cryptocurrency trades placed through its application. SoFi gives Kraken access to 24/7 dollar settlement SEN allows institutional clients to transfer and settle U.S. dollars outside traditional banking hours. Payward’s participation will give eligible K...