Banking Meets Crypto Partnership
Kraken and SoFi Partner to Bridge Traditional Banking and Crypto Networks
Anonymous
Key Points
1
Kraken Financial gained access to the Federal Reserve’s payment system in March, expanding Payward’s footprint in the U.S. banking system and enabling 24/7 settlement capabilities.
2
SoFiUSD is a dollar-backed stablecoin issued by SoFi Bank and is redeemable on a one-to-one basis for U.S. dollars.
3
SoFi became the first nationally chartered U.S. bank to offer customers direct buying, selling and custody of Bitcoin and Ethereum.
4
London Stock Exchange Group reportedly partnered with Payward to offer tokenized UK equities via LSE 24, a 24/5 trading venue slated to launch in 2027.
Kraken and SoFi just built a direct bridge between traditional banking and crypto trading. Payward, which owns Kraken, partnered with SoFi Technologies to connect SoFi's real-time banking and dollar settlement with Kraken's digital-asset network. The deal enables 24/7 crypto settlement — something that didn't exist before in mainstream finance.
SoFi will launch SoFiUSD, a bank-issued stablecoin backed one-to-one by U.S. dollars, directly on Kraken's platform. SoFi's 8 million members can now trade crypto with the same infrastructure that powers their checking accounts. Bitcoin Magazine reports that SoFi customers' orders will route through Kraken Prime to access multiple trading venues and deeper liquidity.
24/7 Settlement Reshapes How Banks Trade Crypto
Until now, crypto trades happened on separate rails from banking. Kraken Financial got access to the Federal Reserve's payment system in March, a watershed moment. Now SoFi's 24/7 settlement infrastructure feeds directly into Kraken's liquidity network. Institutional clients can settle trades around the clock — nights, weekends, holidays — without waiting for traditional bank hours.
SoFiUSD Stablecoin Goes Live on Kraken Exchange
SoFiUSD is a new dollar-backed stablecoin issued by SoFi Bank. Every coin redeems one-to-one for actual U.S. dollars. By listing it on Kraken, SoFi gives its members a frictionless way to trade crypto without leaving the ecosystem. CryptoRank reports the stablecoin will fuel both SoFi's retail trading and Kraken Prime's institutional liquidity.
SoFi Becomes the First National Bank to Offer Full Crypto Services
SoFi holds a rare national bank charter — one of only a handful of banks with that status. Bitcoin Magazine notes that SoFi became the first nationally chartered U.S. bank to let customers buy, sell, and hold Bitcoin and Ethereum directly. With 8 million members, SoFi now wields serious firepower to push crypto into mainstream finance. The Kraken deal accelerates that ambition by tying crypto directly to banking infrastructure.
London Stock Exchange Plans Tokenized Equity Trading With Payward
Payward is expanding beyond crypto. The London Stock Exchange Group reportedly partnered with Payward to launch LSE 24, a trading venue for tokenized U.K. equities. The platform is slated to launch in 2027 and will trade 24/5 (around the clock, five days a week). This mirrors Kraken's crypto model: removing traditional market hours and connecting digital assets to real-world value.
Sentiment
Mostly PositiveNEGATIVENEUTRALPOSITIVE
Publishers
21
Articles
13
Reach
34
A
AnonymousAuthor
