Kraken to List SoFiUSD and Integrate SoFi’s Settlement Network

Kraken, a leading cryptocurrency exchange, has announced a new partnership with SoFi, a prominent financial services company. As part of this collaboration, Kraken will list SoFiUSD, a stablecoin issued by SoFi, on its platform. Additionally, Kraken will gain access to SoFi’s round-the-clock dollar settlement network, enabling faster and more efficient fiat transactions.

Furthermore, Kraken Prime, the institutional trading arm of Kraken, will execute trades for SoFi’s crypto customers, enhancing liquidity and trading options for SoFi’s user base. This integration aims to streamline the trading and settlement processes between the two entities, potentially improving the experience for users engaging in crypto transactions.

The partnership highlights ongoing efforts within the crypto industry to improve infrastructure, liquidity, and fiat on-ramps, facilitating broader adoption and more seamless financial interactions. The listing of SoFiUSD and the access to SoFi’s settlement network are expected to bolster Kraken’s offerings and provide additional stability and convenience for its users.