SoFi and Payward Link with Kraken to Enable 24/7 Dollar Settlement

SoFi Technologies and Payward have partnered to connect SoFi's banking infrastructure with Kraken's digital-asset trading network. This partnership will allow institutional clients to move U.S. dollars and manage liquidity outside traditional banking hours.

The agreement includes SoFi joining the Kraken Prime platform, which will provide an additional source of digital-asset liquidity for trades executed through the SoFi app. Additionally, Kraken will list SoFiUSD, a stablecoin that can be used to settle U.S. dollar transactions 24/7.

The partnership is seen as a way to reduce the operational gap between crypto markets and conventional banking systems. Payward Co-CEO David Ripley stated that 'money and markets are converging into a new financial paradigm, and the infrastructure underneath has to catch up.'