SoFi and Kraken Parent Partner for 24/7 Crypto Settlement

SoFi Technologies and Payward, the parent company of the Kraken crypto exchange, announced a major partnership to connect banking infrastructure directly to digital asset markets. The agreement lets institutional clients on Kraken clear and settle US dollar transactions twenty four hours a day, seven days a week through the SoFi Exchange Network, removing traditional banking hour delays.

As part of the deal, Kraken will list SoFiUSD, a bank issued stablecoin that redeems one to one for US dollars. Meanwhile, SoFi will use Kraken Prime as an additional liquidity source for customer crypto trades, with qualified custody options planned for the future. Executives from both companies highlighted the need for financial systems to keep pace with the nonstop nature of modern cryptocurrency markets.

This partnership follows strong crypto growth for SoFi, which reported high transaction revenues and millions of active app users recently. Payward continues to build out its regulated banking stack by seeking charters and master accounts, positioning both companies for deeper integration between traditional finance and digital assets moving forward.