SoFi and Kraken Bridge Traditional Banking and Crypto Markets
SoFi and Kraken are deepening their ties in a deal that highlights the growing convergence between traditional banking infrastructure and digital-asset markets.
Kraken's parent company, Payward, will join SoFi's Exchange Network (SEN), giving its institutional clients access to 24/7 U.S. dollar settlement. In return, SoFi will tap Kraken Prime for additional crypto liquidity for trades made by its customers.
The deal reflects a broader shift in the financial industry, with crypto exchanges moving into traditional banking and fintechs adopting crypto trading and blockchain settlement.