Payward Partners With SoFi to Integrate Stablecoin Services

Payward, the parent company of Kraken, has partnered with SoFi to integrate the dollar-backed stablecoin SoFiUSD into the Kraken platform. This agreement connects Payward to the SoFi Exchange Network, granting Kraken's institutional and business clients access to business banking services and 24/7 US dollar settlement.

Under the terms of the partnership, SoFi will use Kraken Prime as a source of digital asset liquidity. The company will route orders through smart order routing to access various trading venues. This move follows a series of efforts by Payward to bridge the gap between digital assets and traditional finance, including the acquisition of Backed Finance's xStocks platform and a collaboration with the London Stock Exchange Group.

Separately, Payward has confidentially filed for an initial public offering with the United States Securities and Exchange Commission. While the company has submitted its draft registration statement, reports indicate the listing may be delayed until the second quarter of 2027.