Kraken and SoFi Unite for 24/7 Dollar Settlement

Payward, the parent entity of cryptocurrency exchange Kraken, has formed a strategic alliance with financial technology company SoFi to integrate their banking and crypto trading systems.

The partnership allows for round-the-clock dollar settlement for institutional users across both ecosystems, as well as listing SoFiUSD, a stablecoin backed by US dollars, on the Kraken platform.

This collaboration represents one component of Payward's broader strategy to extend its operations beyond cryptocurrency trading and into conventional financial services.

The partnership also enables SoFi to route member crypto orders through Kraken Prime for digital asset liquidity routing.