SoFi and Kraken Expand Financial Infrastructure with Partnership

SoFi Technologies and Payward, Kraken's parent company, have announced a partnership that connects SoFi's banking services to Kraken's digital asset trading infrastructure.

The deal allows for real-time dollar transfers between institutional clients, enabling round-the-clock liquidity management. This removes delays caused by traditional bank transfer schedules, which often lag behind cryptocurrency market hours.

Payload will join the SoFi Exchange Network (SEN), giving eligible Kraken institutional customers access to 24/7 U.S. dollar settlement and payments services through Big Business Banking.

The partnership also enables SoFi to route digital asset orders through Kraken Prime, a liquidity and execution provider that uses smart routing to compare prices across multiple trading venues.