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Kraken Prime Meets SoFi
Payward, the parent company of Kraken, and SoFi Technologies announced a strategic partnership to connect banking, payments, and digital asset markets, with Kraken Prime serving as an execution venue for SoFi’s cryptocurrency trading services.
“On Sept 3, 2026 SoFi will route its retail crypto order flow to Kraken Prime”
The deal, announced for Sept 3, 2026, says SoFi will route its retail crypto order flow to Kraken Prime and list its bank-issued stablecoin SoFiUSD on Kraken, while Payward joins the SoFi Exchange Network (SEN).
Kraken Prime, launched in 2025, is described as using smart order routing to compare prices and depth across multiple venues and execute where the fill is best, rather than filling trades against a single order book.
The companies said SoFi members buying or selling digital assets through the SoFi app will have their orders routed through Kraken Prime’s smart order routing system, and they said customers will see no change to the app itself.
The integration is also framed as giving Kraken clients access to SEN’s real-time settlement infrastructure, including the ability to move U.S. dollars around the clock, including outside traditional banking hours.
Stablecoin and Settlement
The partnership centers on SoFiUSD, which multiple outlets describe as SoFi’s bank-issued stablecoin, with FXDailyReport.Com saying it is redeemable on a one-to-one basis for U.S. dollars.
CryptoRank and DailyCoin both say Payward will list SoFiUSD on Kraken and that the stablecoin will be accessible to Kraken’s retail, professional, and institutional users.
DailyCoin adds that Payward will join SEN so eligible Kraken institutional clients can move and settle U.S. dollars around the clock, and it says SEN enables 24/7 settlement beyond traditional banking hours.
In the other direction, DailyCoin says SoFi will use Kraken Prime as an additional source of digital-asset liquidity for cryptocurrency trades made through the SoFi app.
The companies also said qualified custody services could be added as the relationship expands, while the partnership is described as connecting real-time dollar settlement, stablecoins, and crypto liquidity through the new link.
Who Gains, What’s Next
Beyond execution and settlement, the deal is presented as expanding access to banking services for Kraken clients, with Kraken Prime’s institutional and business clients gaining access to SoFi’s business banking services and SEN settlement rails.
“"SoFi is building the trusted financial infrastructure for an always-on economy”
CryptoRank says the setup is intended to accelerate crypto adoption for SoFi’s 15.8 million members, and it also notes that SoFi holds a national bank charter and has 15.8 million members.
Bitbo quotes SoFi CEO Anthony Noto framing the effort as infrastructure for an always-on economy, saying: "SoFi is building the trusted financial infrastructure for an always-on economy, combining the strength of a nationally chartered bank with technology that allows money to move seamlessly and efficiently."
Bitbo also quotes Payward Co-CEO David Ripley describing the gap-closing effect, saying: "Millions of people will buy their first cryptoasset inside the app they already use for their paycheck, and the infrastructure behind that experience should connect them to deep, liquid markets built to operate at scale."
The Kraken Blog says the collaboration routes SoFi’s digital asset order flow through Kraken Prime for trade execution, with qualified custody capabilities to follow as the relationship grows, and it describes Kraken Prime as launched in 2025 and built for smart order routing across supported venues.