SoFi Links Banking Network and Stablecoin to Kraken in New Deal

SoFi Technologies and Kraken's parent company, Payward, have partnered to connect their products. Kraken's institutional clients will use SoFi's dollar settlement network, and SoFi will use Kraken Prime for digital asset liquidity. SoFi's stablecoin, SoFiUSD, will be added to Kraken's platforms. According to experts, this partnership reflects the growing integration of digital assets into traditional banking.

Payward, Kraken's parent company, has partnered with SoFi to integrate SoFiUSD stablecoin and access SoFi's 24/7 dollar settlement network. SoFi will use Kraken Prime for digital asset liquidity, while Payward gains access to SoFi’s business banking services. The deal expands both companies' financial service offerings and ties to traditional finance.

SoFi Technologies reported a 40% year-over-year increase in adjusted net revenue to $1.2 billion in Q2, with personal loans accounting for 72% of originations. The company expects 32-35% revenue growth in 2026. Despite strong fundamentals, the stock is down 30% over 12 months, possibly due to concerns about credit risk from rapid growth.

SOFI shares rose 0.7% premarket after Scotiabank initiated coverage with an 'Outperform' rating and $25 price target, implying 40% upside. SoFi reported Q2 revenue of $1.21B (+43% YoY) and raised 2026 guidance to $4.75B-$4.85B. Scotiabank cited faster member growth (35% to 15.8M) and product penetration (42% to 24.4M) as key drivers. Retail sentiment on Stocktwits is bearish, with concerns about company communication and performance.

SoFi Technologies reported record Q2 results, exceeding estimates and raising full-year 2026 revenue guidance. The company highlighted growth in SoFi Plus subscriptions and fee-based services, which contributed to adjusted net revenue. Management emphasized operating leverage and revenue diversification. The stock is projected to reach $7.7 billion in revenue and $1.7 billion in earnings by 2029, representing a 10% upside from its current price.

SoFi Technologies (SOFI) and Coinbase Global (COIN) rose 3% and 5% respectively, driven by stablecoin sector rotation. SoFiUSD, SoFi's stablecoin, has $300M in circulation, while Coinbase's USDC hit a record $20B. Affirm Holdings (AFRM), with no crypto exposure, saw minimal gains, indicating the rally is crypto-specific.