According to CoinMeta, Kraken announced that SOFID is now available for trading, starting from September 4, 2026. SOFID is a US dollar-backed stablecoin issued by SOFI bank, designed to maintain a relatively stable value and to serve as a payment and settlement tool, rather than an investment product. The reserve assets maintained by SOFI bank should be at least equal to the circulating supply of SOFID. SOFID is issued on Ethereum and Solana, and users can perform asset addition and deposit operations through their Kraken accounts.