SoFi Links Its Banking Network and Stablecoin to Kraken

SoFi Technologies announced a new deal linking its banking network and stablecoin to Kraken, one of the larger crypto exchanges. The arrangement ties SoFi's existing banking rails directly to Kraken's platform. The move adds SoFi to a growing list of traditional and fintech players building direct connections between banking infrastructure and crypto exchanges, following similar moves elsewhere in the industry, including Standard Chartered's launch of institutional spot crypto trading on its Dubai FX platform. Terms of the SoFi-Kraken arrangement, including revenue-sharing or exclusivity details, were not disclosed in the announcement.