SoFi Launches Crypto Trading, Citing ‘Bank-Level Confidence’ as Key Edge
SoFi launched in-app cryptocurrency trading, leveraging its national bank charter to offer customers 'bank-level confidence.'Summary
SoFi has become the first nationally chartered consumer bank in the U.S. to introduce in-app cryptocurrency trading, adding access to bitcoin, ethereum, and solana to its platform. This launch, named SoFi Crypto, allows customers to buy, sell, and hold dozens of digital assets alongside existing banking services. The company emphasizes that its status as a federally regulated bank, which entails stricter compliance, is a key differentiator, noting that 60% of its users prefer trading crypto with a licensed institution over exchanges. This move follows SoFi's pause on digital asset services in 2023 while it secured its banking license. Furthermore, SoFi is developing a U.S. dollar stablecoin and plans to integrate crypto further into its lending and payments products.
(Source：CoinDesk)