SoFi Bolsters Digital Asset Reach Through Kraken Partnership

SoFi Technologies has announced a partnership with Payward to expand its banking and payments capabilities. The deal will allow SoFi to tap into Payward's connection to Kraken, a leading digital asset platform.

The partnership will grant SoFi access to the Kraken Prime platform, which will enable it to offer improved pricing on crypto transactions for its customers. Additionally, SoFiUSD, a stablecoin issued by SoFi, will be listed on Payward's multi-asset trading platform.

Keefe Bruyette views this partnership as 'another positive development' for SoFi's digital asset business. The analyst believes that the deal will expand access to SoFi's digital U.S. dollar stablecoin and improve pricing on crypto transactions.