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Kraken and SoFi to route crypto orders and list SoFiUSD

The partnership will connect SoFi’s digital asset order flow to Kraken Prime’s smart order routing and bring the SoFiUSD stablecoin to the Kraken exchange.

Reported · Written up by our desk · Market Structure

Payward, the parent of crypto exchange Kraken, and fintech firm SoFi Technologies announced a deal to connect SoFi customers’ crypto orders to Kraken’s institutional trading platform, and to list SoFi’s stablecoin on Kraken.

Under the agreement, SoFi will route its digital asset order flow to Kraken Prime, Kraken’s prime brokerage arm launched in 2025. Kraken Prime will use smart order routing to compare prices and depth across multiple venues rather than filling trades against a single order book, and SoFi said customers will see no change to the SoFi app.

Payward will also join SoFi’s SoFi Exchange Network, which supports real-time settlement, and will list SoFiUSD, SoFi’s bank-issued stablecoin, on Kraken. The companies said Kraken Prime’s institutional and business clients will gain access to SoFi’s business banking services and round-the-clock fiat settlement, with qualified custody services expected to follow later.

SoFi holds a national bank charter and has 15.8 million members. The announcement follows earlier steps by SoFi to offer retail crypto services, including launching bitcoin trading last year, and it is positioned as the latest in Kraken’s ties with established financial firms.

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