SoFi and Kraken Team Up for Round-the-Clock Dollar Settlement

SoFi and Kraken have linked their networks to facilitate 24/7 dollar settlement for institutional clients. The collaboration enables the listing of SoFiUSD on Kraken, a significant step in enhancing fiat on-ramps and stablecoin utility in crypto.

The move is likely to support increased adoption and on-chain settlement flows among institutions. On September 3, the two firms completed their network link, allowing for seamless dollar settlement around the clock.

SoFiUSD was listed on Kraken as part of this initiative. The listing and continuous settlement rail are expected to boost fiat on-ramps and stablecoin utility in crypto.