SoFi and Kraken Partner to Integrate Banking and Crypto Infrastructure

SoFi Technologies and Payward, the parent company of cryptocurrency exchange Kraken, announced a strategic partnership on September 3, 2026, that links traditional banking infrastructure with digital asset markets. The deal integrates Kraken into SoFi’s financial network while expanding the reach of SoFi’s bank-issued stablecoin, marking a significant step in the convergence of conventional finance and the crypto economy. Under the agreement, Payward will join the SoFi Exchange Network, known as SEN. This integration provides Kraken’s institutional clients with access to 24/7 U.S. dollar settlement and liquidity management, allowing them to move funds and manage cash positions outside standard banking hours. In return, Kraken will list SoFiUSD, a U.S. dollar stablecoin issued directly by SoFi Bank, N.A., making it available to the exchange’s retail, professional, and institutional users. SoFi will also utilize Kraken Prime, the exchange’s institutional brokerage arm, as an additional source of liquidity to execute crypto trades for its own customers, aiming to provide deeper market access and improved pricing.