Kraken, SoFi Link Up on Stablecoin and 24/7 Settlement
- On Thursday, SoFi and Kraken announced a partnership integrating their financial infrastructure, with Payward joining the SoFi Exchange Network to enable institutional clients to move dollars around the clock.
- The tie-up fits a broader industry race where crypto exchanges expand into traditional finance services while fintech firms simultaneously adopt digital assets, stablecoins, and blockchain-based settlement systems.
- Kraken now lists SoFiUSD, SoFi's bank-issued stablecoin, for retail and institutional customers; SoFi will use Kraken Prime as an additional liquidity source for crypto trades made by its customers.
- Both companies indicated the relationship could eventually expand into payments, treasury, lending, and other digital-asset services, with CEO David Ripley noting the infrastructure should connect users to deep, liquid markets.
- SoFi CEO Anthony Noto stated, "The financial system should not shut down when markets stay open," emphasizing the collaboration's goal to remove delays inherent in traditional banking infrastructure.
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SoFi Technologies (NASDAQ: SOFI) Partners With Kraken's Payward To Launch SoFiUSD And Expand Digital Asset Services
SoFi Technologies (NASDAQ: SOFI) has announced a strategic partnership with Payward, the infrastructure company behind the Kraken cryptocurrency exchange, spanning banking, payments, liquidity, and digital asset markets. Under the agreement, Payward will adopt SoFi’s Big Business Banking capabilities and join the SoFi Exchange Network, while simultaneously listing SoFiUSD, SoFi’s dollar-pegged digital asset, on the Kraken […]
SoFi and Kraken Tie Banking Rails to Bank-Issued Stablecoin
SoFi and Kraken's parent Payward announced a strategic partnership linking SoFi's banking network, SEN settlement rails, and bank-issued SoFiUSD stablecoin to Kraken's trading platform and Prime brokerage. The deal gives Kraken users access to the regulated stablecoin while routing SoFi crypto orders for better execution and offering institutions 24/7 real-time USD settlement. It extends SoFi's push to merge traditional banking with blockchain i…
SoFi, Kraken tie up as crypto and banking push into each other's turf
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