SoFi and Payward partner to link banking rails with crypto markets

SoFi Technologies and Payward, the parent company of the cryptocurrency exchange Kraken, have announced a strategic partnership to bridge traditional banking infrastructure with digital asset markets.

The agreement includes three primary components: Payward will join the SoFi Exchange Network (SEN) to provide Kraken’s institutional clients with 24/7 real-time U.S. dollar settlement; Kraken will list SoFi’s stablecoin, SoFiUSD, on its trading platform; and SoFi will utilize Kraken Prime as a liquidity source for its digital asset trade executions.

SoFi CEO Anthony Noto stated that the partnership aims to build infrastructure for an “always-on economy,” ensuring the financial system remains functional while markets are open. Payward Co-CEO David Ripley noted that the collaboration helps close the gap between banking and crypto markets, allowing users to manage liquidity and settle transactions outside of traditional banking hours.