Payward Integrates Institutional Settlement Services with SoFi

PAYWARD Partners With SoFi to Offer Institutional Settlement Services

The partnership between Payward, the parent company of Kraken, and SoFi aims to connect Kraken's institutional trading capabilities with SoFi's 24/7 dollar settlement network. This integration will allow institutions to access SoFiUSD, a stablecoin issued by SoFi Bank that is backed by cash and short-term US Treasurys.

The partnership also includes the use of Kraken Prime, a smart order routing technology that enables digital-asset trading activity through multiple venues in real-time. This will provide institutions with access to fragmented liquidity across various markets.

PAYWARD's expansion into traditional finance continues as it moves beyond its core crypto trading stack and into partnerships with legacy-market infrastructure. The company has been preparing for a potential public listing, which is expected to occur in the second quarter of 2027.