Payward, the parent company of the Kraken crypto exchange, and fintech firm SoFi Technologies have entered a strategic partnership. Under this agreement, SoFi will route its customers' digital asset orders through Kraken Prime, the institutional brokerage arm launched by Kraken in 2025. Kraken Prime utilizes smart order routing to execute trades across multiple venues.
The collaboration also integrates Payward into the SoFi Exchange Network, a real-time settlement system. As part of the deal, Kraken will list SoFiUSD, a stablecoin issued by the bank. In return, Kraken Prime’s institutional clients will receive access to SoFi’s business banking services and fiat settlement capabilities, with custody services planned for the future.
SoFi, which holds a national bank charter and serves 15.8 million members, previously introduced bitcoin trading for retail customers. This partnership follows Kraken’s recent collaborations with major financial institutions, including Deutsche Borse, Nasdaq, and Franklin Templeton, as the exchange continues to expand its presence in traditional finance.
