SoFi Technologies has taken a major step in merging traditional banking with the world of digital assets by launching SoFi Crypto, a platform designed to let consumers buy, sell, and hold a wide range of cryptocurrencies, creating a one-stop financial ecosystem for its members. The launch of the platform positions SoFi as the first nationally chartered US bank to provide regulated crypto trading alongside banking, borrowing, and investing services. Integrating crypto with everyday financial management With the introduction of SoFi Crypto, members can access dozens of digital currencies, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), directly through the same app they use for their banking and investment activities. The platform’s phased rollout began immediately and will expand to more users over the coming weeks. Anthony Noto, CEO of SoFi Technologies, described the move as a pivotal moment where “banking meets crypto in one app on a trusted platform,” emphasising the company’s commitment to providing secure, regulated access to emerging financial technologies. Members can purchase crypto directly from their SoFi Money Checking or Savings accounts, which are FDIC insured, allowing cash to continue earning interest while being ready for investment in digital assets. By integrating crypto with everyday financial management, SoFi Crypto aims to remove barriers that often discourage people from exploring cryptocurrencies. Integrating blockchain into SoFi’s ecosystem SoFi’s launch of its crypto platform is just the beginning of a broader blockchain strategy. The company is already leveraging blockchain for global crypto-enabled remittances, allowing faster, cheaper international payments. Additionally, SoFi plans to introduce a USD stablecoin, which will be used for retail transactions, B2B payments, and embedded within the platform’s infrastructure to enable faster, lower-cost lending and new financial capabilities. Noto has described cryptocurrency as “a better technology we can drive more innovation from,” highlighting the potential of blockchain to reshape traditional finance on multiple levels. Notably, the launch of the SoFi crypto platform comes after SoFi Technologies paused its crypto services in 2023 to comply with requirements for a national bank charter. Now, with favourable regulatory developments and growing consumer demand for regulated crypto access, SoFi is reentering the market, uniquely positioned as a trusted financial institution capable of bridging conventional banking with the digital asset world. Interest in crypto is also at an all-time high, and surveys show that a majority of SoFi members who own crypto would prefer trading through a licensed bank over other exchanges, indicating a clear demand for the platform’s integrated approach. SoFi stock response SoFi stock dipped slightly in premarket trading following the announcement, reflecting typical market caution around new product launches, but analysts view the development as a long-term strategic advantage. SoFi Technologies stock price | Source: Google Finance The fintech recently reported strong financial performance this year, with third-quarter revenue and adjusted earnings surpassing analyst expectations, giving investors confidence in its growth trajectory. The post SoFi Technologies launches SoFi Crypto, a one-stop crypto platform for consumers appeared first on Invezz
