SoFi partners with Kraken on trading
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SoFi Technologies and Payward, Kraken's parent company, announced a strategic partnership on September 3 that connects banking, payments, and digital asset markets. Under the agreement, Kraken will list SoFiUSD, the stablecoin issued by the national bank entity's bank, while SoFi routes its digital asset order flow through Kraken Prime for trade execution, according to Kraken's announcement. Payward joins the real-time settlement rails of the SoFi Exchange Network, according to the announcement. Kraken Prime institutional and enterprise clients will also gain access to SoFi's Enterprise Banking and its SEN settlement network, providing them with a regulated banking partner that settles fiat money in real-time, 24 hours a day. Qualified custody capabilities are expected to follow as the relationship grows. SoFi boasts 15.8 million members, and the app already allows users to buy and sell cryptocurrencies. By routing that order flow through Kraken Prime, those trades now reach a deeper liquidity pool instead of being filled against a single order book. SoFi operates as a national bank, so the union pairs a regulated banking franchise with Kraken's institutional trading stack. Kraken Prime, launched in 2025, uses a smart order routing system that reads prices and depth across supported markets in real-time and sends each order to where it will be best filled. For SoFi, that...
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