Payward and SoFi Collaborate to Enhance Digital Asset Liquidity
- Payward partners with SoFi to integrate SoFiUSD, a dollar-backed stablecoin, into Kraken’s platform.
- SoFi will utilize Kraken Prime for enhanced digital asset liquidity, benefiting from smart order routing technology.
- The partnership allows Kraken’s clients access to the SoFi Exchange Network (SEN) for continuous US dollar settlement.
- SoFi has over 15.8 million members and already facilitates crypto trading through its app.
- This collaboration follows Payward’s recent moves to expand into traditional finance, including partnerships with the London Stock Exchange Group.
The integration of SoFiUSD into Kraken signifies a strategic shift towards enhancing liquidity and expanding services in both cryptocurrency and traditional finance sectors. The partnership aims to streamline digital asset transactions while providing additional banking services through SEN.
With this collaboration, Kraken’s institutional clients can now leverage SEN for round-the-clock US dollar settlements, marking a significant development in the evolving landscape of digital finance.(Source)
