SoFi Technologies, Inc. is a publicly traded American digital personal finance company and neobank. The company operates with a national bank charter and provides an integrated suite of financial products through a single mobile application, including lending, banking, and investment services. As of the third quarter of 2025, the company reported having over 12.6 million members and over $41 billion in assets. ^{[5] [7]} Its core offerings include student loan refinancing, personal loans, mortgages, stock and ETF trading, and high-yield checking and savings accounts. ^[3]

In November 2025, SoFi relaunched its cryptocurrency trading services for retail customers, nearly two years after pausing its previous offering due to regulatory uncertainty. ^[1]​

​

History and Background

SoFi was originally founded as a student loan refinancing company before expanding its services to become a comprehensive, all-in-one digital finance platform. ^[3] The company later became a publicly traded entity and successfully obtained a national bank charter, which allows it to offer FDIC-insured banking products and operate under stricter federal regulations compared to non-bank fintech firms. ^{[3] [4]}​

SoFi's history with digital assets began in 2019 when it first offered cryptocurrency trading through a partnership with the exchange Coinbase. ^[2] In 2023, SoFi suspended this service as a condition for obtaining its national bank charter amid a stricter regulatory environment. ^{[5] [1]} During the service pause, existing crypto customers were directed to the UK-based exchange Blockchain.com. ^[1] In June 2025, the company re-entered the crypto space by launching international payment options that utilized blockchain for fiat-to-crypto conversions. ^[5] The company began indicating its intent to re-enter the trading market in July 2025, culminating in the launch of its own integrated service in November 2025. ^[2]​

Crypto Trading Relaunch (November 2025)

On November 11, 2025, SoFi officially announced the launch of its cryptocurrency trading platform, SoFi Crypto, with a phased roll-out of the service beginning on November 10, 2025. ^{[6] [1] [8]} The move positioned SoFi as the first and only nationally chartered and FDIC-insured consumer bank in the U.S. to offer integrated crypto trading directly within its application. ^{[1] [3] [7]} The service began rolling out to members in phases following the announcement, with a waitlist opened for priority access. ^[6]​

Regulatory Catalysts

The decision to reintroduce crypto trading was enabled by a significant shift in the U.S. regulatory landscape for financial institutions. Two key developments provided the necessary clarity for SoFi to proceed.

Repeal of SAB 121

A primary driver for the relaunch was the repeal of the U.S. Securities and Exchange Commission's (SEC) Staff Accounting Bulletin 121 (SAB 121). ^{[1] [3]} This accounting guidance had previously mandated that financial institutions holding customers' crypto assets must record those assets on their own balance sheets as liabilities. This requirement made crypto custody a capital-intensive and operationally complex service, as banks were required to hold offsetting capital against these liabilities. The repeal of SAB 121 removed this major barrier, allowing regulated banks like SoFi to offer crypto custody in a more capital-efficient manner. ^[3]​

OCC Guidance

In addition to the repeal of SAB 121, new guidance from the U.S. Office of the Comptroller of the Currency (OCC) clarified the path for regulated banks to offer crypto services. In March 2025, the OCC issued an interpretive letter that made it "permissible for banks, like SoFi, to offer cryptocurrencies" under specific conditions. ^{[2] [4]} SoFi CEO Anthony Noto cited this updated guidance and a "clear shift from Washington" as critical factors that provided the regulatory clarity needed to re-enter the market. ^[1] Noto noted that prior to the regulatory shift, "One of the holes we’ve had for the last two years was in cryptocurrency... We were not allowed to do that as a bank. It was not permissible." ^[5]​

Service Details

The relaunched SoFi Crypto service is designed to be a seamless part of the company's broader financial ecosystem.

• Platform Integration: The crypto trading feature is fully integrated into the main SoFi mobile application. Access to SoFi Crypto requires users to have a SoFi Checking and Savings account, which can then be used to instantly fund trades. ^[8] This allows members to buy, sell, and hold digital assets without needing to transfer funds to an external platform. The app also includes educational content and step-by-step guidance for investors. ^{[6] [7]}
• Partnership and Custody: The service is offered through a partnership with Bakkt, which provides trade execution and custody for the digital assets. ^{[1] [3]}
• Available Cryptocurrencies: The platform launched with support for over 30 cryptocurrencies, with initial assets highlighted including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and Shiba Inu (SHIB). ^{[6] [1] [8]}
• Transaction Fees: SoFi charges a 1% fee on all cryptocurrency transactions conducted on the platform. ^{[1] [3]}
• Marketing and Positioning: SoFi has marketed the service with the concept of "bank-level confidence" and "bank-grade safety," emphasizing its institutional-level security and compliance standards as a federally regulated platform. ^{[1] [3] [7]} The company emphasizes its status as a federally regulated institution to build trust with consumers. Internal data from SoFi indicated that 60% of its members who own crypto would prefer to use a licensed bank for their digital asset activities. ^[6] While the service operates within SoFi's security framework, the company clarifies that the underlying crypto assets are highly speculative, not FDIC-insured, SIPC-insured, or bank-guaranteed, and may result in a complete loss of value. All blockchain transactions are also final and irreversible. ^{[6] [7] [8]}

Launch Promotions

To support the launch, SoFi introduced a promotional sweepstakes. The sign-up phase began on October 15, 2025, with an entry period running from December 1, 2025, to January 31, 2026. ^[8]​

Leadership Commentary

CEO Anthony Noto commented on the strategic importance of the relaunch and the company's broader view on blockchain technology. Upon the launch, he stated, "Today marks a pivotal moment when banking meets crypto in one app, on a trusted platform, and driven by our core mission to help our members get their money right." ^[6]​

Noto also shared his long-term perspective on the technology:

"Big picture, we believe blockchain and cryptocurrencies are a super cycle, a technology super cycle just like AI, and it will be pervasive across the financial system... I believe blockchain technology will fundamentally change every way finance is done throughout the world by making money movement faster, cheaper and safer..." ^{[2] [7]}

He also revealed that approximately 3% of his personal investable assets are in cryptocurrencies, primarily Bitcoin. Noto clarified his personal investment thesis, stating, "We have exposure to it because I believe we’re investing in a technology not in a currency. The analogy I use with people is imagine if in 1990 you could have bought a piece of the World Wide Web through some coin called the World Wide Web coin." ^[5]​

Future Developments and Strategy

Following the relaunch, SoFi outlined a broader strategy to integrate blockchain technology across its financial ecosystem. ^[6]​

SoFi USD Stablecoin

CEO Anthony Noto announced plans to introduce a proprietary stablecoin, SoFi USD. The stablecoin would be backed dollar-for-dollar by reserves held within SoFi Bank. Noto expressed concern about the risks of stablecoins from non-bank operators, questioning the security and accessibility of their reserves. ^[5]​

Broader Blockchain Integration

The company intends to integrate crypto into its lending and infrastructure services to facilitate lower-cost borrowing and enable faster payments. Prior to the trading relaunch, SoFi was already using blockchain to facilitate more affordable international money transfers. ^{[6] [5]}​

Core Services

SoFi operates as an integrated digital finance platform, with its services organized into three main categories. ^[1]

Lending

The company's origins are in lending, and it remains the largest online lender in the United States. ^[2] This division includes student loan refinancing, personal loans, and mortgages. ^[1]

Investing (SoFi Invest)

The SoFi Invest platform offers both active and automated investing options for a range of assets. This includes stocks, Exchange-Traded Funds (ETFs), and, as of November 2025, cryptocurrency. ^{[1] [3]}

Banking

Through its national bank charter, SoFi provides FDIC-insured high-yield checking and savings accounts. These services are integrated with its lending and investment platforms, allowing for seamless money movement within the SoFi ecosystem. ^{[1] [2]}

Technology Platform (Galileo)

SoFi also operates Galileo, a technology platform that provides infrastructure and payment processing services to other fintech companies and financial institutions. As of November 2025, Galileo managed nearly 160 million global accounts. ^[7]