SoFi Technologies shares rose after the company announced a partnership with Payward to integrate its banking infrastructure with Kraken's digital asset markets and liquidity solutions.
SoFi Technologies shares gained momentum following a strategic partnership with Payward to integrate SoFi's banking infrastructure with Kraken's digital asset markets. This collaboration includes listing SoFiUSD on Kraken and utilizing Kraken Prime for enhanced liquidity, which strengthens SoFi's 'always-on' financial ecosystem as described by CEO Anthony Noto.
The partnership allows for 24/7 U.S. dollar transaction settlement via the SoFi Exchange Network and provides SoFi members with better pricing on crypto trades through Kraken Prime's liquidity.
SoFiUSD is SoFi's bank-issued stablecoin, which will now be listed on Kraken's multi-asset trading platform.
SoFi Technologies shares climbed Thursday following a strategic partnership with Payward to integrate banking infrastructure with Kraken's digital asset markets. The deal includes listing SoFi's stablecoin, SoFiUSD, on Kraken and utilizing Kraken Prime for enhanced liquidity, aiming to provide 24/7 financial settlement capabilities.
The partnership aims to bridge traditional banking infrastructure with digital asset markets, allowing for 24/7 settlement and improved liquidity for SoFi members.