Nationally chartered bank SoFi launches crypto trading for consumers

Fintech firm SoFi Technologies has launched SoFi Crypto, positioning itself as the first and only nationally chartered bank to offer consumers integrated cryptocurrency trading directly within its existing app. This feature allows members to buy, sell, and hold dozens of cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), seamlessly alongside their FDIC-insured checking or savings accounts without needing to transfer funds externally. SoFi noted that while banking assets are insured, cryptocurrencies are not. This direct integration follows a previous partnership with Coinbase that was suspended in 2023. CEO Anthony Noto stated the launch marks a pivotal moment where banking meets crypto on a trusted platform, emphasizing blockchain's potential to improve financial movement. The launch is part of SoFi's broader strategy to integrate blockchain technology across its products, including future plans for crypto-enabled remittances and a U.S. dollar stablecoin.

(Source：The Block)