Kraken and SoFi Unite for Round-the-Clock Dollar Settlement in Crypto Markets

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 aims to merge SoFi's instantaneous dollar settlement infrastructure with Kraken's digital asset trading capabilities.

This collaboration will enable institutional users across both ecosystems to access round-the-clock dollar settlement. Additionally, Kraken will list SoFiUSD, a stablecoin backed by US dollars, on its platform.

SoFi's participation in the SoFi Exchange Network (SEN) will provide it with liquidity access spanning numerous trading platforms through Kraken Prime's sophisticated order routing capabilities.