TLDRSoFi and Kraken formed a partnership linking banking services, dollar settlement, stablecoins, and crypto trading infrastructure.Kraken’s parent company, Payward, will join the SoFi Exchange Network for 24/7 U.S. dollar transfers and liquidity management.Kraken will list SoFiUSD, giving the bank-issued stablecoin access to retail, professional, and institutional users.SoFi will use Kraken Prime as an additional liquidity source for crypto trades made through its platform.The companies said the partnership could later expand into payments, treasury services, lending, and other digital asset products.SoFi and Kraken have formed a new partnership that connects banking, dollar settlement, stablecoins, and crypto trading. The deal gives Kraken access to SoFi’s financial network while SoFi gains another source of crypto liquidity for customer trades. The agreement links two firms that are expanding their roles across digital finance.The arrangement also gives both firms a wider role in digital finance as banks, fintechs, and crypto platforms compete to combine payments, trading, and settlement services under one platform.SoFi Opens Banking Network to KrakenPayward, Kraken’s parent company, will join the SoFi Exchange Network, known as SEN. The network will let Kraken’s institutional clients move U.S. dollars and manage liquidity at any time, including outside normal banking hours.SoFi designed SEN to support faster dollar transfers for companies that operate around the clock. The service gives businesses another way to settle funds without waiting for standard bank schedules. Kraken can now connect its institutional activity directly with those banking rails.Kraken will also list SoFiUSD, SoFi’s dollar-backed stablecoin, on its platform. The listing will make the token available to Kraken’s retail, professional, and institutional users across its trading network.At the same time, SoFi will use Kraken Prime as another source of liquidity for crypto trades made by its customers. The arrangement can help SoFi access additional market depth when customers buy or sell digital assets through its app.Kraken Broadens Access to Financial ServicesThe partnership follows SoFi’s wider return to crypto services. The company recently added crypto trading to its app and launched SoFiUSD. These products give the bank a direct role in consumer crypto access and blockchain-based dollar transfers.SoFi has also expanded its business banking services. In April, the company launched Big Business Banking, which combines enterprise banking with digital asset services. SEN supports this strategy by giving businesses access to a dollar transfer system that operates beyond regular banking hours.Kraken has also moved beyond basic crypto trading. Its Prime division serves institutional clients and provides trading services, liquidity access, and other tools. The SoFi agreement connects those services with a regulated bank’s payment and settlement network.Both companies said the relationship could expand into payments, treasury services, lending, and other digital asset products. The current deal starts with banking access, stablecoin listing, and crypto liquidity, while leaving room for more services later.The post Kraken Joins SoFi Network as Crypto Push Deepens appeared first on Blockonomi.