SoFi Technologies, Inc. announced the launch of SoFi Crypto. It is the first nationally chartered bank in the United States to offer crypto trading alongside traditional banking. The new service lets customers bank, borrow, invest, and now buy, sell, and hold cryptocurrencies on one regulated platform.
The phased rollout of SoFi Crypto begins today. SoFi members can access leading cryptocurrencies such as Bitcoin, Ethereum, and Solana. According to the report, more digital assets will be added in future updates. The platform is built for both beginners and experienced investors, combining simplicity with professional-grade trading capabilities.
Anthony Noto, CEO of SoFi, called the launch a major milestone for modern banking. He said blockchain will reshape global finance by enabling faster, cheaper, and safer transactions. Noto emphasized that SoFi Crypto provides a secure and regulated path for users to enter the digital asset market.
SoFi Crypto operates with a high level of compliance and regulatory control. The firm has U.S. bank regulators who operate under it. The company indicated that consumers can conduct transactions with confidence since the site operates at the levels of an institution with high security and advanced encryption, with clear operational standards.
Within SoFi Checking or Savings accounts, members are able to purchase crypto with balance funds. These deposit reports are FDIC insured and have cash balances. Users can easily alternate between cash and crypto without any friction.
The platform pointed to education as a cornerstone of the platform. In-app learning tools and lessons educate users about the crypto markets. The company also provides detailed risk disclosures, cautioning that crypto assets are neither FDIC- nor SIPC-insured and may lose all value.
The 60% of members who already own crypto would prefer to trade with a licensed bank than an exchange, according to data. That, the company said, indicates growing confidence in regulated financial institutions. SoFi joins banks like Morgan Stanley, which also plan to roll out crypto trading for their customers.
The timing coincides with a resurgence of interest in digital assets. Crypto ownership is on pace to double in 2025, according to SoFi. Growing consumer interest in regulated platforms is also forcing banks to fall in line with their competitors. The platform seeks to satisfy this demand with reliability, transparency and convenience.
Outside of trading, SoFi aims to deploy blockchain further into its ecosystem. The company is introducing blockchain as the technology to fuel worldwide remittance systems. This enables users to complete international money transfers more quickly and at lower cost. It also intends to release an USD stablecoin to optimise cross-border payments.
It is also aims to integrate crypto in lending and infrastructure products. This may enhance faster lending, reduced transaction expenses and enhanced financial accessibility. The platform claimed that the more comprehensive approach will bring blockchain to all spheres of its services.
The U.S. House Committee on Oversight and Government Reform has launched an investigation into insider…
Prediction market giant Polymarket is under fire as it has been the target of a…
Strategy continues to boost its Bitcoin holdings with STRC perpetual preferred shares and MSTR stock.…
Bitget announced the start of its second-year partnership with UNICEF's Game Changers Coalition today. Since…
Binance has vehemently denied The Wall Street Journal's new report that claims the exchange allowed…
The crypto market crash signs are flashing again, with traders anticipating a slump in Bitcoin…