Kraken parent Payward partners with SoFi on stablecoin and 24/7 settlement

Kraken parent Payward has formed a partnership with SoFi that will bring SoFiUSD to Kraken and connect the crypto exchange to SoFi’s aroundtheclock dollar settlement network. Under the agreement, SoFi will use Kraken Prime as an additional source of digital asset liquidity, while Payward will join SoFi’s Exchange Network and gain access to SoFi’s business banking services. The companies also said custody services could be added later as the collaboration expands. SoFiUSD, issued by SoFi Bank, is a dollarbacked stablecoin launched in 2026 for payments and settlement, with reserves held in cash and shortterm US Treasurys. The deal adds another link between Kraken and traditional finance as Payward continues to broaden its institutional business ahead of a planned public listing.