Kraken Parent Company Payward Partners with SoFi on Stablecoin and 24/7 Settlement
1d ago · 1 source · Summarised by CryptoBipto — how we make this
Payward, the parent company of cryptocurrency exchange Kraken, has announced a partnership with financial services company SoFi. The collaboration reportedly focuses on stablecoin integration and enabling around-the-clock settlement capabilities.
WHY IT MATTERS
Think of settlement like the process of actually handing over money and goods after agreeing on a sale. In traditional finance, this process can take hours or even days and only happens during business hours — similar to how a bank transfer might not go through on a weekend. This partnership aims to use stablecoins — digital tokens designed to hold a steady value, like a digital dollar — to make this process happen instantly, any time of day. For people new to crypto, this is an example of how cryptocurrency technology is being adopted by mainstream financial companies to improve existing financial systems. When a major crypto exchange's parent company teams up with a well-known fintech firm, it signals that the infrastructure connecting traditional finance and crypto is continuing to develop.
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