SoFi Becomes First U.S. National Chartered Bank to Offer Bitcoin and Crypto Trading
SoFi Technologies reenters the crypto market with SoFi Crypto, enabling Bitcoin, Ethereum, and Solana trading alongside banking services under its federal charter.
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Summary
SoFi Technologies has launched SoFi Crypto, allowing customers to trade Bitcoin, Ethereum, Solana, and other cryptocurrencies directly within its banking platform. This marks SoFi’s first reentry into crypto trading since ending similar services in 2023, solidifying its position as the first U.S. nationally chartered bank to integrate such services. The launch combines regulated banking operations with digital asset trading, expanding customer access to blockchain-based investments.
Terms & Concepts
- National Chartered Bank: A bank authorized by the U.S. federal government to operate under a national bank charter, regulated by the Office of the Comptroller of the Currency (OCC).
- Crypto Trading: The act of buying, selling, or exchanging cryptocurrencies through a licensed exchange or trading platform.