KEY FACTS: SoFi Technologies, a San Francisco-based fintech firm, has reentered the cryptocurrency market after a two-year hiatus, launching spot trading for major cryptocurrencies like Bitcoin and Ethereum, and introducing blockchain-based global remittance services for SoFi Money members. The move follows regulatory clarity from the Office of the Comptroller of the Currency, allowing SoFi Bank, N.A., to offer crypto custody, trading, and stablecoin services. The company aims to expand into stablecoins, crypto-backed loans, and staking within the next 6 to 24 months, leveraging its BitLicense and national bank charter to drive innovation in digital finance.
Source: SoFi
SoFi Technologies Reenters Crypto Market with Spot Trading and Blockchain-Based Remittances
SoFi Technologies, the San Francisco-based fintech giant, has announced its return to the cryptocurrency market, reintroducing spot trading and launching innovative blockchain-based global remittance services. This move, announced through posts on X, marks a significant comeback for the company, which paused its crypto offerings in 2023 due to stringent regulatory hurdles in the United States. The decision to reenter the crypto space follows recent regulatory clarity under the Trump administration, enabling SoFi to capitalize on a more favorable environment for digital asset services.
📣 BIG new feature announcement incoming for SoFi—TWO, actually.
1️⃣ Send money worldwide faster, easier, and for less 🌎
And, 🥁 please…
2️⃣ Crypto’s back, baby 😎
Source
SoFi first ventured into cryptocurrency trading in September 2019 as part of its SoFi Invest platform, which offered robo-advisory services and trading in stocks and exchange-traded funds. The company gained a competitive edge in the crypto market when it secured a "BitLicense" from the New York State Department of Financial Services in late 2019, allowing its customers in New York to trade digital assets. However, in 2023, SoFi was forced to exit the crypto market to comply with conditions required to secure a national bank charter, redirecting its users to either transfer their crypto holdings to Blockchain.com or liquidate their assets.
Now, less than two years later, SoFi is making a bold re-entry into the crypto space, driven by a combination of regulatory advancements and growing institutional confidence in digital assets. The company’s decision is supported by recent interpretive letters issued by the Office of the Comptroller of the Currency (OCC) in March and May 2025. These letters permit nationally chartered banks, such as SoFi Bank, N.A., to offer crypto custody, execute trades, hold stablecoin reserves, and provide related services. This regulatory shift has paved the way for SoFi to relaunch its crypto offerings, focusing on innovation and accessibility.
SoFi’s relaunched crypto platform will enable users to buy, sell, and hold major cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), with plans to expand into other digital assets in the future. The platform is designed to be user-friendly, catering to both novice and experienced traders, and aims to simplify the process of engaging with cryptocurrencies. SoFi’s CEO, Anthony Noto, expressed enthusiasm about the company’s renewed focus on blockchain and crypto. In his words:
“We’re very excited about the innovation we can drive via blockchain and crypto across our businesses. SoFi’s planned new international payments will convert fiat to crypto, transmit via blockchain, and convert to local fiat.”
In addition to spot trading, SoFi is introducing blockchain-powered global remittances, a service that promises to revolutionize cross-border payments. The remittance feature will allow eligible SoFi Money members to send funds to dozens of countries using blockchain networks. Funds will be converted from U.S. dollars to cryptocurrencies, transmitted securely, and converted back to local fiat currency at the recipient’s end. This process is expected to offer faster transaction speeds and lower costs compared to traditional remittance services, which often involve multi-day delays and high fees. SoFi’s app will provide full transparency on exchange rates and fees, ensuring a seamless and cost-effective experience for users.
SoFi’s ambitions in the crypto space extend far beyond trading and remittances. The company has outlined a roadmap that includes the introduction of stablecoin offerings, crypto-backed loans, and staking features within the next 6 to 24 months. Stablecoins, which are digital assets pegged to fiat currencies like the U.S. dollar, will provide users with a less volatile option for holding and transacting in crypto. The ability to borrow against crypto holdings will allow users to access liquidity without selling their digital assets, while staking features will enable users to earn rewards by participating in blockchain networks.
Furthermore, SoFi’s Galileo platform, a technology infrastructure provider for financial services, will support third-party crypto infrastructure, including wallets and custody solutions. This positions SoFi to compete in the rapidly evolving digital finance landscape, bridging traditional banking with blockchain technology. The company’s vision is to create a “one-stop shop” for digital financial services, enabling users to borrow, save, spend, invest, and protect their money in innovative ways.
The announcement has already had a measurable impact on the market. SoFi’s stock (NASDAQ: SOFI) rose by approximately 0.7% to $15.96 on June 25, 2025, contributing to a 13% increase in its stock price year-to-date. The company’s strong financial performance, including a first-quarter profit of $71 million and the addition of 800,000 new customers, further bolsters its position to capitalize on the growing demand for crypto services.
SoFi’s re-entry into the crypto market comes with the readiness to integrate blockchain technology across its suite of financial products. CEO Anthony Noto emphasized the transformative potential of crypto, stating that it will be “woven through all aspects of SoFi’s offerings, including saving, investing, paying, and borrowing.” This vision aligns with the company’s mission to provide accessible and innovative financial solutions, particularly for younger generations like Gen Z, who are increasingly drawn to alternative investments such as cryptocurrencies.
The company’s focus on blockchain-based remittances also taps into a significant market opportunity. According to the World Bank, more than $93 billion in remittances were sent from the United States in 2023, underscoring the demand for faster and cheaper cross-border payment solutions. SoFi’s automated, blockchain-powered transfers aim to disrupt this market by offering a more efficient alternative to traditional services.
SoFi’s relaunch of crypto trading and blockchain-based remittances marks a significant development for the company and the broader fintech industry. Leveraging regulatory clarity and its technological capabilities positions SoFi at an advantageous spot in the convergence of traditional banking and digital assets. The company’s ambitious plans for stablecoins, crypto-backed lending, and staking, combined with its focus on user-friendly and cost-effective services, signal a new era of innovation in financial services.
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