SoFi Launches Crypto Trading, Citing ‘Bank-Level Confidence’ as Key Edge

SoFi has launched its cryptocurrency trading service, making it the first nationally chartered consumer bank in the U.S. to offer in-app crypto access. Users can now trade popular cryptocurrencies like bitcoin, ethereum, and solana alongside traditional banking services, including checking and savings accounts. The phased rollout will ensure accessibility for all users in the upcoming weeks. This move is part of SoFi's strategy to re-enter the crypto market after pausing crypto services in 2023 due to regulatory challenges. With a full national bank charter, SoFi emphasizes enhanced compliance, appealing to the 60% of users who prefer trading through licensed institutions. The company is also working on a USD stablecoin and plans to integrate crypto into its lending and payment products, aiming to bolster its offerings in the evolving financial landscape.

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