Kraken and SoFi Link Networks for 24/7 Settlement and SoFiUSD Listing

Kraken's parent company Payward and fintech SoFi Technologies announced a partnership that links the exchange to banking infrastructure. Kraken will gain access to SoFi's round-the-clock dollar settlement network, while the SoFiUSD stablecoin will land on Kraken's listing. The deal blends traditional banking and crypto trading into one infrastructure.

What exactly did Kraken and SoFi agree to?

Payward will join the SoFi Exchange Network, known as SEN. The network allows dollar settlements to close around the clock, including hours when traditional banks are shut. Kraken's institutional clients will be able to settle dollar transactions at any hour, not just during standard banking hours.

In return, SoFi will gain access to Kraken Prime as an extra source of liquidity for crypto trades placed through its app. The companies said this could improve trade pricing for SoFi customers. Qualified custody services may be added later.

What changes for the SoFiUSD stablecoin?

Kraken will add SoFiUSD to its listing for three client tiers at once: retail, professional, and institutional. SoFi's stablecoin launched in December 2025 as a tool for trading, payments, and business transfers, and expanded to the Solana blockchain in May 2026.

"The financial system should not shut down when markets stay open."

- Anthony Noto, CEO of SoFi, from a company statement on September 3, 2026

Why are both companies making this move?

For Payward, this continues a push to build out regulated financial infrastructure. In March 2026, Kraken Financial gained access to the Federal Reserve's payment systems. Days later, the company formed a tokenized-equities partnership with Nasdaq. The SEC's decision to drop its lawsuit against the exchange back in March 2025 cleared the path for these moves.

SoFi, for its part, is returning to crypto for the second time. The company announced its comeback in June 2025, two years after ending its earlier crypto offering. It rolled out trading for up to 30 crypto assets in November 2025, letting customers fund purchases straight from SoFi checking and savings accounts.

• 24/7 settlement: Kraken's institutional clients can move dollars through SEN at any hour, without waiting on bank schedules.
• Kraken Prime liquidity becomes another execution source for crypto trades inside the SoFi app.
• SoFiUSD gets listed for three Kraken client tiers at once instead of a gradual rollout.
• Qualified custody services are promised for later, with no details yet.

What does this mean for stablecoins and crypto exchanges?

The Kraken-SoFi deal points to a broader trend. Fintechs and crypto exchanges are no longer competing for the same customer separately, they're stitching their infrastructure together instead. SoFi gets liquidity and a trading engine, while Kraken gets a channel to banking customers and another stablecoin in its lineup alongside USDT and others.

Worth watching next: whether SoFi adds custody services, and whether Kraken expands its list of banking partners beyond SoFi. If the model works, similar deals between traditional financial firms and crypto exchanges could become routine rather than the exception.