SoFi Taps Kraken for Deeper Crypto Liquidity
SoFi Technologies has partnered with Kraken to connect banking, payments, and digital asset markets. Under this agreement, Kraken will list SoFiUSD, a bank-issued stablecoin from the nationally chartered bank, while SoFi routes its digital asset order flow through Kraken Prime for trade execution.
The partnership allows Payward, the parent company of Kraken, to join the SoFi Exchange Network's real-time settlement rails. This means that Kraken Prime's institutional and business clients will gain access to SoFi's Big Business Banking and its SEN settlement network, providing a regulated banking partner for real-time fiat settlements.
SoFi has 15.8 million members, and its app already allows users to buy and sell crypto. By routing this order flow through Kraken Prime, those trades now reach a deeper pool of liquidity rather than filling against a single order book.