- SoFi Technologies becomes the first nationally chartered U.S. bank to launch crypto services for retail customers.
- The new SoFi Crypto platform allows users to buy, sell, and hold a variety of cryptocurrencies, including Bitcoin, Ethereum, and Solana.
- The rollout begins with limited access, expanding to additional members in the coming weeks through a phased approach.
- Internal data from SoFi indicates strong customer demand for regulated crypto services through licensed banks.
- The launch is described as the initial phase in a broader plan to integrate blockchain technology across the company’s ecosystem.
SoFi Technologies announced Tuesday that it will begin offering cryptocurrency services to its retail banking customers, making it the first nationally chartered bank in the United States to do so. The company’s new SoFi Crypto platform enables members to buy, sell, and hold dozens of cryptocurrencies, including well-known assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
SoFi stated that this launch marks the “first step” in its wider strategy to adopt blockchain technology throughout its business. Blockchain is a type of secure digital ledger that records transactions across several computers, providing transparency and security for digital assets.
Internal company data showed that approximately 60% of existing members who already hold cryptocurrencies prefer to manage their transactions through a licensed bank instead of a cryptocurrency exchange. As SoFi mentioned, this trend demonstrates a robust demand for regulated digital asset services.
The SoFi Crypto platform launch begins Tuesday, following a phased rollout. The company plans to offer access to more members over the coming weeks. Interested customers and current members can join a waitlist for priority access to the new crypto offering.
SoFi has positioned this initiative as an important part of its efforts to expand blockchain innovation within its financial services stated.
The company continues to develop the platform and will provide more details as the rollout progresses.
For additional industry updates, see the related coverage on the recent $3 billion Meta Artificial Intelligence infrastructure deal despite weak third-quarter results.
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