Payward, SoFi Unite Banking and Crypto Infrastructure

SoFi and its parent company Payward have joined forces to bring their banking and crypto infrastructure closer together. Under this new partnership, Kraken customers will gain access to SoFi's USD and its 24/7 dollar settlement network.

The agreement also allows SoFi to send customer crypto orders through Kraken Prime, giving it access to pricing from several trading venues. This move is significant as both companies expand their institutional businesses.

Payward Co-CEO David Ripley highlighted the growing overlap between traditional finance and crypto, stating that 'money and markets are converging into a new financial paradigm, and the infrastructure underneath has to catch up.'