SoFi Technologies, Inc. announced the launch of SoFi Crypto. It is the first nationally chartered bank in the United States to offer virtual currency trading alongside traditional banking services. This new service will allow customers to bank, borrow, invest, and buy, sell, and hold cryptocurrencies on one regulated platform.
The phased rollout of SoFi Crypto begins today. SoFi members have access to major cryptocurrencies including Bitcoin, Ethereum, and Solana. According to the report, more digital assets will be added in future updates. The platform is built for both beginners and experienced investors, combining simplicity with professional-level trading features.
SoFi CEO Anthony Noto said the launch is a major milestone for modern banking. He said blockchain will reshape global finance by enabling faster, cheaper and more secure transactions. Noto emphasized that SoFi Crypto provides a secure and regulated path for users to enter the digital asset market.
Combining bank-grade security with seamless encrypted access
SoFi Crypto operates under high levels of compliance and regulatory controls. The company operates under the U.S. banking regulator. The company said the site is operated at an institutional level with high security and advanced encryption, and there are clear operating standards, so consumers can conduct transactions with confidence.
Within a SoFi checking or savings account, members can purchase cryptocurrencies with their balance funds. These deposit reports are FDIC insured and list cash balances. Users can easily switch between cash and cryptocurrencies without any issues.
The platform noted that education is the foundation of the platform. In-app learning tools and lessons educate users about the cryptocurrency market. The company also provides detailed risk disclosures, warning that crypto assets are not FDIC or SIPC insured and may lose all value.
Rising trust drives blockchain expansion
Data shows that 60% of members who already own cryptocurrencies would rather trade with licensed banks than exchanges. The company said this shows increased confidence in regulated financial institutions. SoFi plans to join banks like Morgan Stanley in rolling out crypto trading for their customers as well.
The timing coincides with a resurgence of interest in digital assets. According to SoFi, ownership of cryptocurrencies will double in 2025. Growing consumer interest in regulated platforms is also forcing banks to keep pace with their competitors. This platform aims to meet this demand with reliability, transparency, and convenience.
Beyond trading, SoFi aims to further introduce blockchain into its ecosystem. The company is deploying blockchain as the technology to power its global money transfer system. This allows users to complete international money transfers faster and at a lower cost. We also plan to release a USD stablecoin to optimize cross-border payments.
It also aims to integrate cryptocurrencies into lending and infrastructure products. This could enhance faster lending, lower transaction costs, and improved access to finance. The platform claimed that a more holistic approach will see blockchain introduced into all areas of its services.