On Thursday, Payward, the parent company of the cryptocurrency exchange Kraken, and fintech firm SoFi Technologies announced a strategic partnership aimed at routing crypto orders from SoFi customers through Kraken’s institutional trading platform. Additionally, SoFi’s stablecoin is set to be listed on the exchange.

As part of this agreement, SoFi will direct its digital asset order flow to Kraken Prime, the prime brokerage division of Kraken, which launched in 2025.

Unlike traditional exchanges that fill trades against a single order book, Kraken Prime employs advanced smart order routing technology to assess prices and order depth across multiple trading venues, ensuring trades are executed where conditions are most favorable. Notably, SoFi has indicated that users will not experience any changes to the existing app interface.

Furthermore, Payward will be integrated into the SoFi Exchange Network, a real-time settlement system, and will subsequently list SoFiUSD, SoFi’s bank-issued stablecoin, on the Kraken platform.

In exchange, Kraken Prime’s institutional and business clients will gain access to SoFi’s business banking services, including 24/7 fiat settlement capabilities. The collaboration is expected to expand later to offer qualified custody services.

SoFi, which holds a national bank charter and boasts a membership of 15.8 million individuals, continues to forge partnerships with key financial institutions. This latest arrangement follows previous collaborations between Kraken and established financial entities such as Deutsche Börse for foreign exchange and derivatives infrastructure, Nasdaq for tokenized equities, and Franklin Templeton regarding the tokenization of exchange-traded funds.

This announcement follows SoFi’s notable achievement last year as the first nationally chartered bank in the United States to offer crypto services to retail customers.

Through the newly launched SoFi crypto platform, members will have the capability to buy, sell, and hold bitcoin directly within their bank accounts.

Similar to other cryptocurrency exchanges, Kraken is actively pursuing integration with traditional financial systems, offering users the ability to trade stocks, bonds, and diverse assets. The company promotes its app as a comprehensive solution for all financial needs.

Source link

Bits n Coins

Thank you for visiting our site. You can get the latest Information and Editorials on our site regarding bitcoins.