SoFi Technologies, Inc. (SOFI) has announced the launch of its new service, SoFi Crypto, making it the first U.S. nationally chartered, FDIC-insured consumer bank that enables customers to buy, sell, and hold cryptocurrencies directly in their banking app.
What the Launch Involves
The rollout, announced on November 11, 2025, begins with a phased rollout of SoFi Crypto to eligible members. The service offers trading in dozens of cryptocurrencies including staples like Bitcoin (BTC), Ethereum (ETH) and Solana (SOL).
According to CEO Anthony Noto:
“Today marks a pivotal moment when banking meets crypto in one app, on a trusted platform… As the first and only nationally chartered bank to launch crypto trading to consumers, we are uniquely positioned to drive this innovation.”
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Regulatory milestone: Many banks have been restricted from offering crypto trading due to regulatory uncertainty. SoFi’s national charter and FDIC-insurance status give it a unique standing.
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Full banking + crypto integration: Users can access traditional banking services (checking/savings, loans, investing) and now crypto trading through a single platform. This melds fintech convenience with regulated banking safety.
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Crypto credibility boost: For the broader crypto industry, having a bank chartered consumer institution offering trading services adds legitimacy and signals that digital assets are increasingly embedded in mainstream finance.
What This Means for Users and Investors
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For consumers: Existing SoFi members will be able to access crypto trading, possibly reducing friction for entry into digital assets. The combination of banking, investing and crypto in one app may attract those who previously kept these services separate.
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For institutional/retail investors: The launch may encourage more conservative or bank-focused investors to consider crypto exposure via regulated platforms.
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For SoFi: The move may strengthen its competitive positioning in fintech, widen its product range and potentially increase customer engagement and deposits.
Risks & Considerations
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Phased rollout: The service will become available to more users over the coming weeks, so full access is not immediate for all members.
Crypto risks: Despite the bank’s regulation, underlying cryptocurrency assets remain volatile and subject to market risks, regulatory changes and technological disruptions; users should remain aware of those factors.
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Regulatory evolution: While the national charter helps, the regulatory landscape for crypto is still evolving banks may face new oversight or compliance burdens as they expand crypto services.
What to Watch Next
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Whether other nationally chartered banks follow SoFi’s lead and launch integrated banking + crypto offerings.
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Which additional cryptocurrencies or features (staking, borrowing against crypto, stablecoins) SoFi will add to its platform.
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How SoFi’s crypto trading impact affects its deposit growth, customer acquisition and competitive dynamics in fintech.
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Regulatory responses from agencies such as the Office of the Comptroller of the Currency (OCC) or the Securities and Exchange Commission (SEC) around bank-offered crypto trading.
FAQs
Q1. What exactly has SoFi launched?
SoFi has launched “SoFi Crypto,” a service within its banking app that allows eligible users to buy, sell and hold cryptocurrencies such as Bitcoin, Ethereum and Solana. It claims to be the first U.S. nationally chartered, FDIC-insured consumer bank to offer this combined service.
Q2. Why is being a “nationally chartered bank” significant for this crypto service?
A national charter means the bank is regulated at the federal level (via the OCC) and carries FDIC insurance for deposits. This provides stronger regulatory oversight and trust compared to many fintechs or state-chartered banks offering crypto-adjacent services. SoFi’s status helps it integrate crypto into mainstream banking more credibly.
Q3. Which cryptocurrencies are initially supported on SoFi Crypto?
The launch materials list dozens of cryptocurrencies, including major assets like Bitcoin (BTC), Ethereum (ETH) and Solana (SOL). Additional tokens and features may be rolled out over time.
Q4. Is the service available to all SoFi customers immediately?
Not yet. The rollout is phased, meaning eligible members will gain access in stages over the coming weeks.
Q5. Does this mean buying crypto through SoFi is risk-free?
No. Though the platform is backed by a bank charter and regulatory oversight, the underlying crypto assets remain subject to market volatility, regulatory changes and technological risk. Users should still assess their own risk tolerance, investment objectives and do their research.
