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

SoFi has become the first nationally chartered consumer bank in the U.S. to offer in-app cryptocurrency trading, enabling users to buy, sell, and hold bitcoin, ethereum, solana, and more. This new feature, called SoFi Crypto, is being rolled out in phases and will integrate digital asset management within the existing app that includes services such as checking, savings, and lending. The company's recent strategy shift follows a pause in its digital asset services in 2023 as it sought a banking license amid increased regulatory scrutiny. SoFi emphasizes that operating under a national bank charter enhances compliance and builds customer trust, noting that a significant majority of its users prefer trading with a licensed institution. Looking ahead, SoFi plans to develop a USD stablecoin and further integrate cryptocurrency into its lending and payment products.

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