Payward and SoFi Team Up to Bring SoFiUSD to Kraken and Enable 24/7 Dollar Settlement

Payward, the company behind the Kraken exchange, announced a partnership with SoFi that will add the SoFiUSD stablecoin to Kraken and link the platform to SoFi’s 24/7 US‑dollar settlement network.

Key components of the partnership

• SoFiUSD, a dollar‑backed stablecoin issued by SoFi Bank, will be listed on Kraken.
• Kraken Prime will serve as an additional source of digital‑asset liquidity for SoFi.
• Payward will join the SoFi Exchange Network (SEN) and gain access to SoFi’s business banking services.
• Qualified custody services may be added as the collaboration expands.

Benefits for SoFi and Kraken users

SoFi members, who number 15.8 million, will be able to route digital‑asset orders through Kraken Prime. The smart‑order routing system evaluates pricing and market depth across multiple venues in real time, allowing trades to be filled where they are most effective.

Kraken’s institutional and business clients will gain access to SEN, enabling round‑the‑clock settlement of US‑dollar transactions.

Broader strategic context

The deal follows Payward’s recent moves to deepen ties with traditional finance, including a reported partnership with the London Stock Exchange Group to offer tokenized UK equities and the acquisition of a tokenized‑equities platform that provides exposure to IPOs such as SpaceX and Jersey Mike’s.

Payward is also preparing for an initial public offering, with a draft registration statement filed with the U.S. SEC in late 2025 and a potential listing targeted for the second quarter of 2027.