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Kraken and U.S. digital bank SoFi are partnering in dollar payments and cryptocurrency trading, CoinDesk reported.
Kraken parent Payward will use SoFi’s dollar payment network SEN to provide institutional clients with 24-hour U.S. dollar transfers and liquidity management services. Kraken will list SoFi-issued dollar stablecoin SoFiUSD, while SoFi will also use Kraken Prime to secure the liquidity needed for customer crypto trading. The two companies said the partnership could later expand into payments, treasury management, and lending.