SoFi Technologies, Inc., the everything app for digital financial services, and Payward, a unified financial infrastructure platform, have announced a strategic partnership designed to enhance banking, payments, liquidity, and digital asset markets.

The deal pairs a nationally chartered U.S. bank holding company with the operator of one of the world's largest cryptocurrency exchanges, reflecting a broader trend of regulated financial institutions and digital asset firms building direct infrastructure links as institutional demand for around-the-clock crypto trading grows.

Under the agreement, Payward will leverage SoFi's Big Business Banking capabilities, join the SoFi Exchange Network (SEN), and list SoFiUSD on its multi-asset trading platform. In turn, SoFi will use Kraken Prime, Payward's full-service prime brokerage solution, as an additional source of digital asset liquidity, with qualified custody capabilities to become available as the relationship expands.

Around-the-Clock Dollar Settlement

By joining SEN, SoFi's real-time settlement network, Payward unlocks new pathways for institutional clients to clear and settle U.S. dollar transactions 24 hours a day, seven days a week. Extending settlement beyond traditional banking hours also enhances the money movement process, allowing clients to move money and manage liquidity on an always-on schedule. That capability addresses a long-standing friction point in digital asset markets, where crypto venues trade continuously while traditional dollar clearing through bank wire systems has historically been limited to business days and banking hours.

The partnership additionally connects Kraken, one of the world's largest digital asset platforms, to SEN. Kraken institutional clients will be able to use SEN's real-time settlement rails to move USD and manage liquidity across both networks at any hour—extending settlement beyond traditional banking hours for entities that already operate around the clock.

"The financial system should not shut down when markets stay open," said Anthony Noto, CEO of SoFi. "SoFi is building the trusted financial infrastructure for an always-on economy, combining the strength of a nationally chartered bank with technology that allows money to move seamlessly and efficiently. Our partnership with Payward is a powerful validation of that strategy and an important step toward a financial system where businesses can move money across networks and, over time, across borders without the delays and fragmentation of legacy infrastructure."

"Money and markets are converging into a new financial paradigm, and the infrastructure underneath has to catch up," said David Ripley, Co-CEO of Payward. "Collaborating with SoFi lets us close that gap, and it works in both directions. Millions of people will buy their first cryptoasset inside the app they already use for their paycheck, and the infrastructure behind that experience should connect them to deep, liquid markets built to operate at scale."

Kraken Prime Liquidity and SoFiUSD Listing

Kraken Prime, one of the industry's leading prime brokerages, will serve as an additional source of liquidity behind SoFi's crypto offering. SoFi members can buy and sell crypto inside the SoFi app, and Kraken Prime will enable better pricing for SoFi members on trades they already make there.

Payward will also list SoFiUSD on Kraken, expanding access to SoFi's bank-issued stablecoin for millions of retail, professional, and institutional clients using one of the world's leading digital asset platforms. SoFiUSD is redeemable one-to-one for U.S. dollars and is designed to combine the utility of blockchain technology with the safeguards of a regulated financial institution. The listing gives SoFi's stablecoin distribution on a major global exchange at a time when bank-issued and regulated stablecoins are an increasingly active area of competition alongside dominant dollar-pegged tokens.

Building on Big Business Banking

SoFi launched Big Business Banking in April to bring its enterprise banking and digital asset capabilities together in a single offering. The partnership with Payward puts that model to work at scale and creates a foundation for the two companies to expand their collaboration across payments, treasury, lending, and digital assets over time.

Source: GlobalFinTechSeries