SoFi (SOFI) Links Banking Network to Kraken in New Deal

SoFi Technologies (SOFI) and Payward, Kraken's parent company, announced a new deal on Thursday to link Kraken to SoFi's dollar settlement network and offer SoFi's stablecoin on the exchange. Kraken's clients will be able to clear U.S. dollar transactions at any time through SoFi's Exchange Network. Additionally, SoFi will utilize Kraken Prime for enhanced liquidity in crypto trades. The partnership reflects a broader effort to integrate banking and crypto infrastructure, enabling efficient market operations for customers, which may improve pricing and service options for investors in both platforms.