PANews reported on November 11th that, according to The Block, SoFi Technologies launched "SoFi Crypto," claiming to be the first nationally licensed bank to directly integrate with consumer-facing crypto trading services. This feature will be rolled out in phases, allowing users to directly buy, sell, and hold "dozens" of crypto assets, including BTC, ETH, and SOL, within the SoFi App using funds from FDIC-insured checking/savings accounts (the crypto assets themselves are not FDIC protected). SoFi previously partnered with Coinbase in 2019 to offer crypto trading, but suspended the partnership in 2023; this is its first direct integration since obtaining its banking license. The company is also promoting the application of blockchain in remittances, stablecoins, lending, and payment infrastructure, and claims that 60% of its crypto-holding members prefer to manage their crypto assets with a licensed bank.PANews reported on November 11th that, according to The Block, SoFi Technologies launched "SoFi Crypto," claiming to be the first nationally licensed bank to directly integrate with consumer-facing crypto trading services. This feature will be rolled out in phases, allowing users to directly buy, sell, and hold "dozens" of crypto assets, including BTC, ETH, and SOL, within the SoFi App using funds from FDIC-insured checking/savings accounts (the crypto assets themselves are not FDIC protected). SoFi previously partnered with Coinbase in 2019 to offer crypto trading, but suspended the partnership in 2023; this is its first direct integration since obtaining its banking license. The company is also promoting the application of blockchain in remittances, stablecoins, lending, and payment infrastructure, and claims that 60% of its crypto-holding members prefer to manage their crypto assets with a licensed bank.
SoFi launches cryptocurrency trading service for consumers.
PANews reported on November 11th that, according to The Block, SoFi Technologies launched "SoFi Crypto," claiming to be the first nationally licensed bank to directly integrate with consumer-facing crypto trading services. This feature will be rolled out in phases, allowing users to directly buy, sell, and hold "dozens" of crypto assets, including BTC, ETH, and SOL, within the SoFi App using funds from FDIC-insured checking/savings accounts (the crypto assets themselves are not FDIC protected). SoFi previously partnered with Coinbase in 2019 to offer crypto trading, but suspended the partnership in 2023; this is its first direct integration since obtaining its banking license. The company is also promoting the application of blockchain in remittances, stablecoins, lending, and payment infrastructure, and claims that 60% of its crypto-holding members prefer to manage their crypto assets with a licensed bank.
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