SoFi Technologies and Payward, the parent of crypto exchange Kraken, announced on Sept. 3 a partnership linking SoFi’s banking and dollar-settlement rails with Kraken’s trading and liquidity network. Payward will join the SoFi Exchange Network, or SEN—SoFi’s always-on settlement rail—so eligible Kraken institutional clients can move U.S. dollars around the clock and will also use SoFi’s Big Business Banking services, the April enterprise suite that combines banking, payments and digital-asset capabilities. Kraken will list SoFiUSD, SoFi Bank’s dollar-redeemable stablecoin issued through its regulated banking structure, for retail, professional and institutional users; the token became available in SoFi’s app in May on Ethereum and Solana for nearly 15 million members, and the Kraken listing extends distribution beyond the issuer’s application, though trading pairs, networks, initial liquidity and timing were not disclosed. SoFi has separately noted federal stablecoin rules may require SoFiUSD to migrate to a separately licensed entity. SoFi will route app crypto orders through Kraken Prime as an additional multi-venue liquidity and execution source via smart routing, with qualified custody possibly added later without a timetable. SoFi reported $121.6 million in crypto transaction revenue in the first quarter of 2026 against $120.7 million in related costs, and $134.3 million in second-quarter crypto transaction revenue, up 10% sequentially, on $1.2 billion of adjusted net revenue. SOFI closed the announcement session near $18.51, up about 3.7%, after trading between $17.63 and $18.70, without verified evidence the partnership alone drove the move. Payward’s Wyoming-chartered Kraken Financial secured a Federal Reserve master account in March and in May applied to the OCC for a national trust charter. The companies said the relationship could later extend into payments, treasury, lending and other digital-asset services; financial terms were not disclosed.