SODA is now online for Kraken Global Trading, SODAX passes EU MiCA compliance review

SODA launches Kraken, SODAX obtains EU MiCA compliance status

As the successor of ICX, SODA is now officially launched globally in Kraken, and SODAX has also obtained EU MiCA compliance status.

Zug, Switzerland, August 17, 2026-SODAX is a cross-network execution and mobility infrastructure inherited from the ICON network. Its token SODA began trading today on the Kraken Global Exchange Platform, supporting Sonic and Arbitrum blockchain networks. Previously, Kraken had completed a 1:1 conversion of ICX balances to SODA. Kraken will support SODA's trading against the U.S. dollar and euro.

Kraken suspended ICX trading and recharge on August 7 and completed the migration from August 10 to 14, consistent with the exchange's plan in July. Since earlier this year, SODA has also traded on other platforms such as Coinone and Bound Exchange.

Min Kim, founder of SODAX, said: "Every successful launch is a vote of confidence in the future direction of SODAX, not just a recognition of our starting point. Kraken provides SODA with a permanent global home and an accessibility that is critical to both old and new users."

SODA launches trading on 20 networks

SODAX is an execution system that allows funds to be moved, lent, traded and settled across blockchain networks without requiring users or developers to manage cross-chain bridges or encapsulate assets. The cross-chain model now covers 20 networks, including Ethereum, Solana, Sui and Bitcoin, and many applications integrate SODAX infrastructure to launch new features and expand their market influence.

This design separates execution from hosting. Independent solvers compete with each other to fill in user intent-the specific results the user wants to achieve, such as a transaction or loan-while SODAX coordinates routing and settlement. At the heart of this execution system and the fees it generates is its governance token SODA.

The total supply limit of SODA is 1.5 billion tokens, with no additional token issuance and no increase. A portion of each fee incurred by routing transactions through the SODAX system is used for multiple fee-driven growth goals: 20% is used for programmatic repurchase and destruction, permanently removing SODA from circulation supply, promoting the deflationary nature of the token;20% is used for SODA pledge rewards; the remaining 60% is allocated to SODAX DAO and its liquidity inventory.

This design is part of SODAX's larger strategy as a modern monetary infrastructure. Wallets, decentralized exchanges, lending agreements and revenue platforms integrate the SODAX SDK to launch cross-chain capabilities across 20 blockchain networks. As Infrastructure services have more partners and routes, transaction volumes and fees will continue to grow, driving the growth flywheel.

In addition to providing execution services for partner products on its 20 integrated blockchain networks, SODA tokens also exist natively in these networks, with transactions routed through shared unified cross-chain liquidity of the execution system. Among them, Kraken supported Sonic and Arbitrum when it was launched, providing more trading options for the market.

Kim said: "As new blockchain networks continue to emerge, fragmentation will only accelerate, and there are currently not enough systems to serve all networks. SODAX was built for this. Gaining transaction access on Kraken while maintaining our compliance with regulatory standards are two parts of the same narrative-creating a rigorous execution system that stands the test."

MiCA white paper has been submitted to the Central Bank of Ireland

Along with this launch, SODAX has also released a SODA crypto assets white paper that complies with MiCA standards and has notified the Central Bank of Ireland, as its competent authority, that the white paper is recognized within the European Economic Area (EEA).

Combined with Kraken's launch, this step allows SODA to be traded globally at launch, meeting the exchange's token compliance standards. The industry continues to experience shocks and consolidations around this new regulatory baseline in Europe. The filing (No. 3532007) supports SODA issuance and trading in regulated venues in the EU and reaffirms SODAX's commitment to meeting the industry's changing regulatory expectations and operating transparently within the European crypto regulatory framework.

About SODAX

SODAX is a cross-network execution and mobility system covering 20 networks, including a variety of EVM and non-EVM networks, such as Bitcoin. Wallets, decentralized exchanges and lending protocols integrate the SODAX SDK to launch cross-chain capabilities faster and extend their coverage to every network covered by SODAX. SODAX is the infrastructure of modern money.

About Kraken

Kraken was founded in 2011 and is one of the oldest and most secure cryptocurrency platforms in the world. More than 13 million users around the world rely on Kraken to provide a vertically integrated infrastructure stack covering spot trading, derivatives, pledges and payments, supporting more than 600 digital assets and six fiat currencies.

Regulatory statement: This release has not been reviewed or approved by the Central Bank of Ireland or any other competent authority. Read it in conjunction with SODA's MiCA Cryptographic Assets white paper. Information on the SODA token economic model, pledge mechanism and programmatic destruction activities is for illustrative purposes only and does not constitute financial, investment or legal advice. The reward rate is variable and is based on the amount of agreed fees; past performance does not represent future results.