SoFi Technologies and Payward have reached an agreement to connect SoFi’s banking network with Kraken’s trading architecture, an arrangement that extends the fintech firm’s instant settlement framework to the digital-asset platform.
According to an announcement shared with The Block on Thursday, Payward is set to integrate into the SoFi Exchange Network (SEN)—SoFi’s real-time settlement platform—while also listing SoFiUSD on Kraken. Additionally, the partnership entails SoFi utilizing Kraken Prime as a supplementary provider of digital-asset liquidity for transactions executed via its application.
This collaboration brings SoFi’s real-time settlement network, previously restricted to corporate banking clients, to Kraken’s institutional user base. Through this framework, participants on both systems are able to transfer U.S. dollars and handle liquidity outside of standard banking hours.
Payward Co-CEO David Ripley stated that financial assets and marketplaces are merging into an emerging monetary model, requiring underlying systems to evolve accordingly. He noted that millions of individuals will acquire their initial digital asset directly within the application they already rely on for their salaries, and the architecture powering that user experience must link them to robust, liquid markets designed for large-scale operations.
SoFi introduced the network in April alongside its Big Business Banking product, which unifies its corporate banking and digital-asset activities. Revenue generated from cryptocurrency transactions reached $134.3 million during the second quarter, marking a 10% increase compared to the first quarter, despite representing a minor fraction of SoFi’s total adjusted net revenue of $1.2 billion.
This pact arrives as Payward expands its operations beyond the Kraken exchange into financial plumbing, custody solutions, and regulated offerings. Back in May, the firm submitted an application to the Office of the Comptroller of the Currency seeking a national trust company charter to set up the Payward National Trust Company.
Furthermore, Payward’s Wyoming-based institution, Kraken Financial, secured a Federal Reserve master account in March, granting it direct entry into the central bank’s payment network.
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Originally published at https://www.theblock.co/news/business/2026-09-03-sofi-payward-agree-to-link-banking-network-with-kraken-infrastructure-413432.
