Payward, the parent company of crypto exchange Kraken, has partnered with SoFi to integrate SoFiUSD stablecoin onto Kraken and connect the platform to SoFi’s 24/7 dollar settlement network. The partnership also routes SoFi’s digital asset trades through Kraken Prime, Kraken’s institutional trading platform.
SoFiUSD is a dollar-backed stablecoin launched in 2026 for payments and settlement, with reserves held in cash and short-term US Treasurys. The stablecoin will be accessible to SoFi’s 15.8 million members through both the SoFi app and Kraken.
Kraken Prime uses smart order routing to evaluate pricing and market depth across supported venues in real time. By routing SoFi’s trades through Kraken Prime, the partnership creates a direct connection between SoFi’s user base and institutional-grade execution infrastructure.
Broader Payward Strategy
The SoFi partnership fits within Payward’s expansion into tokenized assets and institutional settlement. In early 2026, Kraken acquired Backed Finance, a tokenized equities platform. The exchange has since offered exposure to tokenized equities including SpaceX and Jersey Mike’s IPOs through its xStocks platform.
Payward also partnered with London Stock Exchange Group to launch an LSE 24 tokenized equities venue, set to open in 2027. In August 2026, Kraken added round-the-clock S&P 500 exposure through a funded trading program.
Regulatory Context
Payward confidentially submitted a draft registration statement to the SEC in November 2025. The company’s IPO was reportedly pushed back to at earliest Q2 2027.
SoFi already offers crypto trading through its app, extending the company’s financial services footprint into digital assets. The partnership represents the first direct integration of SoFiUSD onto a major crypto exchange platform.
