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SoFi opens banking rails to Kraken in sweeping crypto alliance. On Thursday, SoFi Technologies, Inc. and Payward, the parent company of Kraken, announced a partnership aimed at enhancing digital asset payments, liquidity, and enhanced banking experiences. The new deal will allow Kraken to tap into SoFi's banking network in order to move money faster. Key takeaways. * SoFi and Kraken linked up Sept. 3, and it could be a significant deal for crypto payments. * Kraken said it will list SoFiUSD, with 24/7 settlement now in the cards. * Market data shows that SOFI shares clocked a 2%+ jump. On the flip side, the crypto market is still doing its thing, with bitcoin's price and altcoins staying volatile, affecting crypto-exposed stocks. SoFi opens its banking network as Kraken adds SoFiUSD. SoFi explained, in a release published on Sept. 3, that the partnership will provide Payward and Kraken with the firm's banking capabilities, such as the SoFi Exchange Network (SEN). Alongside this, Kraken is going to list the stablecoin SoFiUSD on its exchange platform. Kraken traders will be able to buy, sell, and trade using the SoFi stablecoin asset. The companies believe this will "unlock new pathways" for Kraken in regard to institutional clients who want to settle 23/7/365. "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," SoFi said in the release on Thursday morning. "Money and markets are converging into a new financial paradigm, and the infrastructure underneath has to catch up," David Ripley, the Co-CEO of Payward, remarked in the release. Ripley added: "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 targets better crypto prices as SoFi shares jump. For users on the bitcoin buying side, SoFi's application finds the bitcoin needed to sell to them. SoFi leverages various marketplaces for the source, and now, with the deal with Payward, the company will expand even further by using Kraken's Prime service. With the Kraken Prime platform, it will provide SoFi with the ability to instantly scan every single crypto marketplace in the world, in order to find the cheapest price available at that exact second. "Kraken Prime will enable better pricing for SoFi members on trades they already make on the app," SoFi emphasized on Thursday. SoFi is a publicly traded company listed on the Nasdaq exchange, and shares jumped more than 2% on the news. Despite that recent climb, SOFI shares are down more than 4% over the last five trading sessions and down 31% year-to-date. Yesterday Greed Last Week Greed Last Month Fear How do you feel about the market today?

SoFi, Kraken tie up as crypto and banking push into each other's turf. Kraken is joining SoFi's settlement network and list SoFiUSD as the companies link traditional banking with crypto markets. * Kraken parent Payward will use SoFi's banking services and join its 24/7 dollar settlement network. Digital bank SoFi (SOFI) and Kraken are plugging into each other's financial plumbing with a deal that gives the crypto exchange access to SoFi's banking and dollar settlement rails while bringing Kraken's trading infrastructure to SoFi's customers. Payward, Kraken's parent company, will join the SoFi Exchange Network, dubbed SEN, allowing Kraken's institutional clients to move U.S. dollars and manage liquidity around the clock instead of waiting for traditional banking hours, according to a Thursday press release shared with CoinDesk. Kraken also lists SoFiUSD, SoFi's bank-issued stablecoin, while SoFi will use Kraken Prime as an additional source of liquidity for crypto trades made by its customers. "The financial system should not shut down when markets stay open," SoFi CEO Anthony Noto said, pointing to the company's goal of allowing businesses to move money across networks without the delays of traditional banking infrastructure. The tie-up fits a broader race to build financial one-stop shops. Crypto exchanges are expanding beyond token trading into stocks, derivatives and payments, while fintechs and traditional financial firms are coming from the other direction, adding crypto, stablecoins and blockchain-based settlement. What best describes your role? "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," Payward co-CEO David Ripley said. SoFi's crypto push. The agreement builds on a broader push back into digital assets for SoFi. The fintech added crypto trading to its app and launched SoFiUSD, its own dollar-backed stablecoin, giving it both a consumer-facing crypto business and blockchain-based payment infrastructure. SoFi has also been building out the banking side of that strategy. It debuted Big Business Banking in April, bringing enterprise banking and digital-asset services under one roof, while SEN gives businesses an always-on rail for moving dollars. The Payward agreement connects that infrastructure to one of crypto's largest trading platforms. Kraken brings the other side of the equation. Its Prime business will become another source of crypto liquidity for SoFi, potentially helping the fintech source prices for trades made inside its app. Listing SoFiUSD also puts the stablecoin in front of Kraken's retail, professional and institutional customers. The companies said the relationship could eventually expand into payments, treasury, lending and other digital-asset services. Anvil is a shared on-chain collateral layer built on a programmable letter of credit: reserve assets as a guarantee -no loan, no interest, keep custody & yield. Jul 29, 2026 Commissioned by Anvil Why it matters: Anvil is a shared on-chain collateral layer built on a programmable letter of credit: reserve assets as a guarantee -no loan, no interest, keep custody & yield.

SoFi Technologies shares fell over 4% on Tuesday, marking three consecutive sessions in the red. Retail investors on Stocktwits are increasingly favouring rival fintech Robinhood Markets over SoFi. Morgan Stanley upgraded Robinhood to "Overweight" on Tuesday, setting a price target of $150 — implying nearly 45% upside. The analyst cited the company's expanding product lineup and opportunities to monetise its 28 million customer base. Robinhood's second-quarter results showed earnings per share of $0.62, beating estimates, whilst revenue rose 32% year-over-year to a record $1.31 billion. The platform recorded $22 billion in net deposits and $369 billion in total assets. SoFi also beat expectations with adjusted earnings per share of $0.12 and revenue of $1.2 billion, but shares declined as management kept profit forecasts flat amid rising Treasury yields.