Payward, the parent company of Kraken, has entered a partnership with SoFi to integrate the SoFiUSD stablecoin into the Kraken platform. This collaboration connects Payward to SoFi’s 24/7 dollar settlement network, enabling round-the-clock US dollar transactions for Kraken’s institutional and business clients.
Under the agreement, SoFi will utilize Kraken Prime to access digital asset liquidity across multiple venues. SoFi, which currently serves 15.8 million members, will route its crypto trading orders through this system to improve execution efficiency. The companies may also introduce qualified custody services in the future.
SoFiUSD is a dollar-backed stablecoin issued by SoFi Bank in 2026, with reserves maintained in cash and short-term US Treasurys. This deal marks another step in Payward’s strategy to integrate with traditional financial institutions, following recent initiatives involving tokenized UK equities and S&P 500 exposure.
Payward continues to expand its presence in public markets through its xStocks platform, acquired in early 2026, which offers tokenized shares of companies like SpaceX. Meanwhile, the company is preparing for a potential public listing, with reports suggesting an IPO could occur in the second quarter of 2027.