SoFi Launches Crypto Trading, Citing ‘Bank-Level Confidence’ as Key Edge

Why It Matters

The launch brings regulated banking oversight to retail crypto trading, likely attracting risk‑averse users and setting a new compliance benchmark for the industry. It also positions SoFi to broaden its blockchain footprint, intensifying competition between fintechs and traditional banks in crypto‑related services.

Summary

SoFi became the first nationally chartered consumer bank in the United States to offer in‑app cryptocurrency trading, adding Bitcoin, Ethereum, Solana and dozens of other assets to its platform. The phased rollout will be available to all users in the coming weeks, following a 2023 pause while the firm secured its banking charter. SoFi is marketing the service as “bank‑level confidence,” citing that 60% of its customers would rather hold crypto with a licensed bank than a crypto‑native exchange. The company also announced plans for a U.S. dollar stablecoin and crypto‑integrated lending and payments products.