Kraken to List SoFiUSD and Access SoFi’s Dollar Settlement Network

Kraken announced a partnership with financial services firm SoFi that will bring the SoFiUSD stablecoin to the exchange and integrate SoFi’s round‑the‑clock dollar settlement infrastructure. The deal also extends Kraken Prime’s execution capabilities to SoFi’s cryptocurrency customers.

Stablecoin Listing

Kraken will list SoFiUSD, SoFi’s dollar‑pegged stablecoin, allowing users to trade and hold the asset on the exchange.

Access to Settlement Network

Through the agreement, Kraken gains direct access to SoFi’s continuous dollar settlement network, which operates 24/7 and is designed to streamline fiat‑to‑crypto conversions.

Kraken Prime Execution for SoFi Clients

Kraken Prime, the institutional trading arm of the exchange, will execute trades on behalf of SoFi’s crypto customers, providing institutional‑grade liquidity and execution services.

Implications

• Enhanced fiat on‑ramp and off‑ramp capabilities for Kraken users.
• Increased visibility and utility for the SoFiUSD stablecoin.
• Broader service offering for SoFi’s crypto clientele via Kraken Prime.