Sofi Links Banking Network to Kraken

Sofi Technologies and Payward, Kraken's parent company, have announced a new deal that will connect Kraken to SoFi's Exchange Network. As part of this agreement, Kraken will list SoFiUSD, a stablecoin introduced by Sofi in December, for retail and institutional customers.

The deal also includes the use of Kraken Prime as an additional source of liquidity for crypto trades placed through the SoFi app. This could improve trade pricing for SoFi customers, according to Sofi CEO Anthony Noto. Payward will join the SoFi Exchange Network, allowing Kraken's institutional clients to clear and settle U.S. dollar transactions at any time, including outside conventional banking hours.

The agreement marks another step in building infrastructure that connects traditional finance and crypto markets. This comes after Kraken Financial secured access to the Federal Reserve's payment systems in March 2026. Sofi has been expanding its presence in the crypto market since announcing plans to return to it in June, two years after ending its earlier offering.