Kraken Taps into SoFi's Banking Rails with Crypto Trading Deal

Kraken and SoFi have announced a partnership that links crypto trading to banking rails. Under this agreement, SoFi will send its digital asset order flow to Kraken Prime, Kraken's prime brokerage arm launched in 2025.

SoFi Prime uses smart order routing to compare prices and depth across multiple venues and execute where the fill is best. This means customers won't see any change to their app.

Prior to this partnership, SoFi last year became the first nationally chartered bank in the US to launch crypto services for retail customers through its new SoFi crypto platform.