SoFi lists SoFiUSD on Kraken as the two firms open round-the-clock dollar settlement
Kraken‘s owner Payward will connect to SoFi’s real-time settlement rails and carry SoFis bank-issued stablecoin on its exchange. The partnership, announced Thursday, lets institutional clients on either platform move dollars at any hour. Payward joins SoFis 24/7 rail Payward, the infrastructure company behind the Kraken exchange, is joining the SoFi Exchange Network, the always-on settlement rail launched in April. SoFi is using Paywards prime brokerage, Kraken Prime, to route crypto trades from its app to access deep liquidity. Kraken will list SoFiUSD, a stablecoin redeemable one-to-one for U.S. dollars, and make it available to the platforms retail, professional, and institutional users. SoFi and Payward issued a joint statement on September 3. The deal lets institutional traders use a settlement service that was only available to SoFis business banking clients before. Kraken customers have the option to settle and hold dollars on both networks at any time. SoFis crypto revenue reached $134.3 million in Q2 Legacy bank rails go dark on nights and weekends, but crypto continues to trade. “The financial system should not shut down when markets stay open,” SoFi CEO Anthony Noto said in the announcement. Payward Co-CEO David Ripley said, “Money and markets are converging into a new financial paradigm.” Kraken Prime is powering the buy and sell buttons in









