SoFi, Kraken Launch Round-the-Clock Dollar Settlement

SoFi Technologies and Kraken have partnered to offer institutional clients a round-the-clock dollar settlement service. The partnership, announced on Thursday, allows customers of both platforms to move dollars at any hour.

The connection between SoFi's real-time settlement rails and Kraken Prime will enable deep liquidity for crypto trades from SoFi's app.

SoFiUSD, a stablecoin redeemable one-to-one for U.S. dollars, is now listed on Kraken and available to its retail, professional, and institutional users.

'The financial system should not shut down when markets stay open,' said SoFi CEO Anthony Noto in the announcement.