SoFi and Kraken Unite Traditional Banking with Round-the-Clock Crypto Trading

The SoFi and Kraken partnership is changing how institutional dollars move through digital asset markets. The two companies have joined forces to connect traditional banking rails with round-the-clock crypto trading infrastructure.

This means that institutional clients will be able to transfer and settle U.S. dollars at any hour, rather than waiting for standard banking schedules. Payward, Kraken's parent company, is joining SoFi's real-time settlement network, allowing for 24/7 U.S. dollar transfers.

Kraken will also list SoFiUSD, a bank-issued stablecoin redeemable 1:1 for U.S. dollars. This listing extends the reach of SoFiUSD beyond the SoFi app itself. SoFi will route its customers' crypto orders through Kraken Prime as an additional liquidity and execution source.

The partnership could eventually stretch into payments, treasury services, lending, and other digital-asset products. However, neither company has set a launch date or specified which assets might qualify for custody services.