SoFi Technologies Launches Nationwide Consumer Crypto Banking Service
SoFi Technologies reintroduces cryptocurrency trading within its banking app, offering Bitcoin, Ethereum, and Solana access after a 2023 service pause.
According to SoFi Technologies’ official announcement, the company has relaunched cryptocurrency trading through SoFi Crypto, enabling customers to buy, sell, and hold assets like Bitcoin, Ethereum, and Solana alongside its banking services. This marks SoFi’s return to the crypto market after suspending similar services in 2023. The platform operates under SoFi’s national banking charter, making it the first U.S. nationally chartered bank to provide integrated crypto trading. FDIC insurance applies to cash balances but not crypto holdings, and SoFi plans to expand into stablecoins, remittances, and crypto-linked loan products.
- SoFi Crypto: A consumer-focused crypto trading platform by SoFi Technologies that integrates buying, selling, and holding digital assets within a single banking app.
- Bitcoin (BTC): The first and most widely recognized cryptocurrency, operating on a decentralized blockchain network.
- Ethereum (ETH): A blockchain platform known for smart contracts and decentralized applications.