Quick Breakdown
- SoFi becomes the first nationally chartered US bank to launch crypto trading.
- SoFi USD stablecoin and blockchain-based lending services are in development.
- CEO Anthony Noto likens crypto to early internet innovation, with 60% of members backing the move.
SoFi enters crypto market after regulatory green light
US-based SoFi Technologies has officially stepped into the cryptocurrency space, launching trading services for its customers after clearer federal guidelines opened the door for banks to engage with digital assets.
The bank began a phased rollout of its crypto platform on Monday, allowing users to trade dozens of cryptocurrencies, including Bitcoin (BTC) and Ether (ETH). Access will gradually expand to all customers in the coming weeks.
Crypto is back at @SoFi! We’re now the first and only nationally chartered bank where consumers can buy, sell and hold crypto!! https://t.co/XM7NoYnPB3
— Anthony Noto (@anthonynoto) November 11, 2025
Speaking on CNBC’s Squawk Box on Tuesday, SoFi CEO Anthony Noto said the move makes SoFi “the first and only nationally chartered bank” in the United States to offer crypto trading to consumers.
From exit to reentry: SoFi’s crypto comeback
SoFi previously exited the crypto market in 2023 due to regulatory requirements for obtaining its bank charter. However, in March, the Office of the Comptroller of the Currency (OCC) relaxed its stance on how banks can participate in digital assets, paving the way for SoFi’s return.
The company re-entered the blockchain ecosystem in June, introducing international payment options that allow fiat-to-crypto conversions and blockchain-based transfers.
Stablecoin and blockchain plans ahead
Beyond trading, SoFi is preparing to launch SoFi USD, a fully backed stablecoin that will support faster and more secure payments. The bank also intends to weave blockchain technology into its lending and payment infrastructure.
Noto compared blockchain’s transformative potential to artificial intelligence, calling it a “super cycle technology” that will “be pervasive across the financial system.”
However, he warned about the risks associated with non-bank stablecoin issuers.
“Just because it’s backed dollar-for-dollar doesn’t mean those dollars will be there when you try to liquidate,”
he cautioned, highlighting liquidity, credit, and duration risks.
Members embrace the crypto push
With over $41 billion in assets and 12.6 million members, SoFi’s pivot toward digital assets aligns with customer demand, as 60% of members have expressed interest in crypto investments.
Noto also disclosed that 3% of his personal portfolio is allocated to cryptocurrencies, primarily Bitcoin.
“We’re investing in a technology, not a currency,”
he said.
“Imagine if in 1990 you could buy a piece of the World Wide Web — that’s what this feels like.”
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