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      SoFi and Kraken Partner to Enhance Cryptocurrency Trading and Bank Settlements

      Digital bank SoFi has announced a partnership with cryptocurrency exchange Kraken to integrate their financial systems, enhancing the efficiency of bank settlements and cryptocurrency trading. As part of this collaboration, Kraken's parent company, Payward, will join SoFi's settlement network, known as SEN. This integration will enable institutional clients to transfer dollars and manage liquidity continuously, without being restricted by traditional banking hours.

      In addition to the settlement network integration, Kraken plans to launch SoFiUSD, a bank-issued stablecoin from SoFi. This move will allow SoFi to utilize Kraken Prime as an additional liquidity source for its clients engaged in cryptocurrency trading. SoFi CEO Anthony Noto emphasized the need for a financial system that remains operational while markets are open, while Payward co-CEO David Ripley highlighted the opportunity for millions of users to purchase cryptocurrency assets through familiar applications.

      This partnership marks SoFi's renewed focus on the digital asset sector, following its previous offerings of cryptocurrency trading and the introduction of the dollar-backed stablecoin SoFiUSD. Earlier this year, SoFi also launched Big Business Banking, which integrates corporate banking with digital asset services. Both companies have indicated that future collaborations may extend to areas such as payments, fund management, lending, and other digital asset services.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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