SoFi Technologies has partnered with Payward, the parent company of Kraken, to connect traditional banking with digital asset markets. This partnership will enable Payward to utilize SoFi’s Big Business Banking capabilities, join the SoFi Exchange Network (SEN), and list the SoFiUSD stablecoin on the Kraken platform. As of Q2 2026, approximately $300 million of SoFiUSD is in circulation.
This collaboration offers Kraken’s institutional clients 24/7 U.S. dollar clearing, settlement, and liquidity management. SoFiUSD, redeemable one-for-one for U.S. dollars, aims for broader distribution through Kraken, while SoFi expects enhanced pricing for its members’ crypto transactions, leveraging Kraken Prime.
Additionally, by June 30, 2026, SoFi reported 388,336 crypto products and a net crypto transaction revenue of $1.18 million in Q2 2026, highlighting the company’s growth following its return to crypto investing in late 2025. Total financial services products surged 43% year-over-year, reaching 21.3 million.
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