Kraken and SoFi Partner to Integrate Crypto Trading with Banking Services

WHY IT MATTERS

Think of this like a grocery store partnering with a specialty food supplier. Instead of going to a separate specialty shop (a crypto exchange like Kraken), you can now find those products in the store you already visit (SoFi's banking app). For people new to crypto, this kind of partnership can make it easier to buy and sell digital currencies because they can do it through a financial app they may already use for banking or investing, rather than signing up for a separate crypto exchange. However, it is important to understand that the convenience of integrated access does not change the risks involved in trading cryptocurrencies, and users should research how their assets are held and what protections, if any, are in place.