SoFi and Kraken Unite: Integrating Digital Assets into Traditional Finance

SoFi Technologies and Payward, the parent company behind Kraken, are teaming up to integrate their products. This partnership will connect SoFi's dollar settlement network with Kraken's exchange, enabling institutional customers to settle U.S. dollar transactions outside of conventional banking hours.

The deal also allows SoFi to use Kraken Prime as a source of digital asset liquidity and puts the SoFiUSD stablecoin on Kraken's trading platforms.

This is the latest in a series of digital asset initiatives from SoFi, which includes reintroducing crypto trading to its accounts last fall, launching an international money movement product using blockchain technology, and releasing its stablecoin to all 15 million banking customers.