Kraken and SoFi announce a partnership to link SoFi’s banking settlement infrastructure with Kraken’s crypto services. As part of the deal, Kraken joins SoFi’s settlement network and lists SoFiUSD, a stablecoin associated with SoFi.
The companies describe the arrangement as a bridge between traditional banking settlement and stablecoin trading. Decrypt adds that Kraken will also use SoFi’s round-the-clock dollar settlement network for related settlement needs, while Kraken Prime will execute trades for SoFi’s crypto customers. The outlets frame the move as an effort by both firms to expand into each other’s markets—crypto platforms moving closer to banking rails, and a banking brand extending further into crypto trading and custody-adjacent services.
