SoFi and Payward link banking network with Kraken infrastructure

Sep 3, 2026

SoFi Technologies and Kraken parent Payward have partnered to bridge traditional banking and digital assets. Under the deal, Payward joins the SoFi Exchange Network, enabling Kraken's institutional clients to settle U.S. dollar transactions 24/7. Additionally, Kraken will list SoFi's stablecoin, SoFiUSD, while SoFi integrates Kraken Prime to boost liquidity for its retail crypto traders. The tie-up highlights a broader convergence trend as fintechs and crypto exchanges build unified financial services.

SoFi-Payward infrastructure partnership

▪SoFi Technologies and Kraken parent Payward announced a partnership on September 3, 2026, to link SoFi's banking network with Kraken's trading infrastructure
▪The partnership between SoFi Technologies and Payward allows users on both platforms to move U.S. dollars and manage liquidity outside traditional banking hours

SoFi Exchange Network expansion

▪Payward will join the SoFi Exchange Network, allowing Kraken's institutional clients to clear and settle U.S. dollar transactions around the clock
▪SoFi Technologies launched the SoFi Exchange Network in April 2026 alongside its Big Business Banking offering to bring enterprise banking and digital-asset services together

Kraken Prime liquidity integration

▪The integration of Kraken Prime is intended to help SoFi Technologies improve trade pricing for customers trading inside its app
▪SoFi Technologies will use Kraken Prime as an additional source of digital-asset liquidity for customer crypto trades made through the SoFi app

SoFiUSD stablecoin listing

▪Kraken will list SoFiUSD, a dollar-backed stablecoin issued by SoFi, for its retail, professional, and institutional customers
▪SoFi Technologies expanded its SoFiUSD stablecoin to the Solana blockchain in May 2026
▪SoFi Technologies introduced its dollar-backed stablecoin, SoFiUSD, in December 2025 as a tool for trading, payments, and business transfers

Crypto-fintech convergence trend

▪The partnership reflects a broader industry trend where crypto exchanges expand into traditional financial services while fintechs integrate blockchain-based settlement and crypto trading
▪SoFi Technologies reported crypto transaction revenue of $134.3 million in the second quarter of 2026, representing a 10% increase from the first quarter

Payward regulated infrastructure development

▪Payward's Wyoming-chartered bank, Kraken Financial, received a Federal Reserve master account in March 2026, granting it direct access to the central bank's payment system
▪Payward formed a tokenized-equities partnership with Nasdaq in March 2026, following the dismissal of an SEC lawsuit against the exchange
▪Payward applied to the Office of the Comptroller of the Currency in May 2026 for a national trust company charter to establish Payward National Trust Company