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SoFi Rolls Out Crypto Trading With Bitcoin, Ethereum, Solana and More

SoFi has launched SoFi Crypto, allowing users to buy and sell cryptocurrencies such as Bitcoin and Ethereum through its platform. This marks SoFi's return to crypto trading after discontinuing it in 2023. Users can trade up to 30 crypto assets using funds from their existing FDIC-insured checking or savings accounts, eliminating the need for additional accounts. SoFi CEO Anthony Noto emphasized the importance of blockchain technology in transforming financial transactions. While the launch does not mention crypto staking or borrowing features, SoFi aims to cater to consumer preferences for trading with regulated institutions. The rollout of SoFi Crypto will occur in phases, with a waitlist available for interested parties. Shares of SoFi have seen a slight increase following the announcement, reflecting the growing demand for integrated financial services that include cryptocurrency trading.

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