> ## Content Index
> Fetch the complete content index at: https://www.theglobalbanker.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# SoFi and Payward link banking rails to Kraken markets in settlement partnership
- URL: https://www.theglobalbanker.com/sofi-and-payward-linked-banking-rails-to-kraken-markets-in-settlement-partnership/
- Published: 2026-09-03T15:45:47.000Z
- Updated: 2026-10-04T12:59:49.000Z
- Description: SoFi Technologies and Payward announced a strategic partnership on 3 September under which Payward joins the SoFi Exchange Network, lists SoFiUSD on Kraken, and supplies liquidity to SoFi's 15.8 million members.
- Author: TGB Editorial Team
- Tags: Fintech, Americas

SoFi Technologies and Payward, the parent company of digital asset exchange Kraken, announced a strategic partnership on Thursday under which Payward will join the SoFi Exchange Network, list SoFi's bank-issued stablecoin SoFiUSD on its multi-asset trading platform, and supply digital asset liquidity to SoFi's 15.8 million members through Kraken Prime. The arrangement connects SoFi's real-time settlement rails, previously available to its enterprise banking clients, to Kraken's institutional customer base. Under the agreement, Payward will also leverage SoFi's Big Business Banking capabilities, while SoFi will use Kraken Prime as an additional source of liquidity, with qualified custody capabilities available as the relationship expands. Financial terms were not disclosed.

The partnership builds on SoFi's Big Business Banking unit, launched in April, which combined the company's enterprise banking and digital asset operations into a single offering. SoFi reported gross crypto transaction revenue of $134.3 million in the second quarter, up 10 per cent from the first quarter, but after $133.1 million of associated costs its net crypto transaction revenue was $1.2 million, against $1.2 billion in adjusted net revenue. The company applied to the Office of the Comptroller of the Currency in May for a national trust company charter to establish Payward National Trust Company, and its Wyoming-chartered bank, Kraken Financial, received a Federal Reserve master account in March.

#### ROUND-THE-CLOCK DOLLAR SETTLEMENT

By joining the SoFi Exchange Network, known as SEN, Payward gains pathways for institutional clients to clear and settle US dollar transactions 24 hours a day, seven days a week. The companies said extending settlement beyond traditional banking hours lets clients move money and manage liquidity on an always-on schedule. Kraken institutional clients will be able to use SEN's real-time rails to move dollars and manage liquidity across both networks at any hour. Payward itself will use SoFi's Big Business Banking capabilities.

"The financial system should not shut down when markets stay open," said Anthony Noto, chief executive of SoFi, in the announcement. He said SoFi is building trusted financial infrastructure for an always-on economy, combining the strength of a nationally chartered bank with technology that allows money to move without the delays and fragmentation of legacy infrastructure, and called the partnership a powerful validation of that strategy. David Ripley, co-chief executive of Payward, said money and markets were converging into a new financial paradigm and that the infrastructure underneath had to catch up, adding that millions of people would buy their first cryptoasset inside the application they already use for their paycheck.

#### STABLECOIN DISTRIBUTION AND EXECUTION

Running in the opposite direction, Kraken Prime, Payward's full-service prime brokerage arm, will serve as an additional source of liquidity behind SoFi's in-application crypto offering, which the company said will enable improved pricing for members on trades they already execute through the platform. Payward will simultaneously list SoFiUSD on Kraken, expanding distribution of the stablecoin to the exchange's retail, professional and institutional client base. SoFiUSD is redeemable one-to-one for US dollars and is issued directly by SoFi Bank.

Both companies said the relationship could extend over time across payments, treasury, lending and additional digital asset services, though no timeline was provided for those phases. Payward separately agreed this week with the London Stock Exchange to tokenise shares of the 100 largest London-listed companies through its xStocks framework.