SoFi is back in the crypto game. The financial services firm has officially launched SoFi Crypto, enabling users to trade Bitcoin, Ethereum, Solana, and 27 other digital assets directly within its app. This marks a major return to crypto trading after the company paused services in 2023.
With SoFi Crypto, users can buy, sell, and hold cryptocurrencies using funds from their FDIC-insured checking or savings accounts. The rollout is happening in phases, and new users can join via a waitlist.
Banking Meets Crypto
CEO Anthony Noto framed the launch as a moment where “banking meets crypto,” emphasizing blockchain’s potential to make financial systems faster, cheaper, and safer. He added that the move aligns with SoFi’s broader mission to help members “get their money right.”
Earlier this year, Noto signaled SoFi’s crypto ambitions, confirming in June the plan to reintroduce digital asset trading. The current launch focuses on trading and custody, while staking and borrowing features will be rolled out at a later stage.
SoFi members can now access 30 cryptocurrencies on the platform. Internal data shows that 60% of crypto-owning members prefer using a licensed bank over traditional exchanges for their digital asset needs.
The launch follows regulatory clarity from the U.S. Office of the Comptroller of the Currency, which allows nationally chartered banks to custody and provide crypto services. SoFi confirmed that it is fully compliant with these requirements.
SoFi shares (SOFI) rose nearly 1% on the day of the announcement, extending a year-to-date gain of approximately 100%. The company plans to gradually expand access to SoFi Crypto across its growing member base in the coming weeks.
