SoFi now offerings crypto trading with its banking app, the first United States national bank to do so.
$37 billion SoFi is bringing the trading of decentralized digital assets to its 12.6 million users, within a regulated and restricted system of course.
SoFi Technologies has introduced SoFi Crypto, marking the first time a U.S. nationally chartered bank is offering cryptocurrency trading directly within its own platform. The fintech firm announced that the new service will enable members to buy, sell, and hold digital assets, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), through a phased rollout starting Tuesday.
The launch positions SoFi as the first national bank to provide direct crypto access without external integrations. Unlike its previous partnership with Coinbase, suspended in 2023, this offering operates entirely under SoFi’s own infrastructure and regulatory framework. The platform enables users to manage crypto transactions from their FDIC-insured checking or savings accounts, integrating them alongside traditional financial products.
According to SoFi, the integration follows a March 2025 interpretive letter from the Office of the Comptroller of the Currency (OCC) clarifying that banks may offer cryptocurrency services under specific conditions. SoFi CEO Anthony Noto explained that this regulatory development removed a key restriction that had previously prevented banks from enabling direct crypto trading. – blockchainmagazine.net report
Of course it is important to note that digital assets are not insured as fiat deposits are and that this is not self-custody trading and probably won't have withdrawals enabled.
That said, I can say that those things generally do not matter, they are to be expected of any traditional finance company moving into crypto trading.
Having crypto via a bank may provide a sense of regulatory oversight/trust compared to a non-bank crypto exchange. SoFi itself claims that about 60 % of their crypto-holding members prefer a licensed bank over an exchange.
Notwithstanding, this isn't all SoFi has to offer when it comes to decentralized digital assets. The company is reportedly working on a USD-pegged stablecoin, like most United States banks at this point and in addition to this, SoFi is working on using the Bitcoin lightning network to improve the $740 billion remittance market, enabling as much as 12% in cost savings for international money transfers.
Is this bullish for crypto?
I think that we should be past the phase of actively seeking developments that pumps decentralized digital assets prices, we should be more concerned with exposure that comes with educating the public on digital assets and tokenization, and this is what we can expect from SoFi.
One reason many people haven’t bought crypto yet is that they feel that they don’t understand it well enough. SoFi Crypto makes it easy to get started with in-app education, simple step-by-step guidance and seamless money movement. SoFi seeks to help members make informed decisions about how crypto fits into their financial lives and risk tolerance. – SoFi Technologies
Introducing the world to crypto is crucial, letting these traditional companies do it is good in some ways. It was always to be expected that integrations would imply centralization, but I think that this won't matter long-term because when people begin investing in decentralized digital assets and they begin to jump on Google search to find informations on what's best to invest in and anything of those sorts, they will slowly learn about decentralization and self-custody, coming to understand how to best invest in the industry.
As I've always said, TradFi wants control and will try to get it as regulated entities but they will lose long-term. I could say that some of these players understand this, but I guess that's tomorrow's worries and it's far more important that today's integrations and adjustments are made to capitalize on the emerge asset market, a move I can say I respect far more than the strategy of staying away, which is stupid and costly.