Digital banking platform SoFi Technologies is making a strong return to the cryptocurrency space, relaunching its crypto trading and blockchain services after stepping away from the sector in late 2023.
The move marks a strategic shift for the Nasdaq-listed firm, which had previously suspended its digital asset operations amid regulatory uncertainty.
Now, SoFi customers can once again buy, sell, and hold cryptocurrencies like Bitcoin directly through the platform. But the revival goes beyond simple trading—SoFi is also rolling out blockchain-based international money transfers, crypto lending, and staking options, signaling a broader embrace of Web3 financial tools.
The decision comes amid a renewed wave of institutional and retail interest in digital assets, a trend SoFi appears eager to capitalize on. With over two years to reassess its crypto roadmap, the company now seems poised to integrate blockchain more deeply into its broader product suite.
SoFi CEO Anthony Noto framed the relaunch as a foundational step toward reshaping financial services around emerging technologies. He emphasized that digital assets will eventually influence all core areas of finance—from payments and savings to investing and lending—and described SoFi’s goal as becoming a comprehensive, crypto-forward financial hub.
With this relaunch, SoFi joins a growing list of U.S. financial institutions moving to re-engage with crypto as market conditions improve and customer demand accelerates.
Bank of America is actively developing a stablecoin offering, CEO Brian Moynihan revealed during a post-earnings conference call on Wednesday.
PayPal has expanded its stablecoin, PayPal USD (PYUSD), to the Arbitrum network, marking a key step in its strategy to integrate with faster, more cost-efficient blockchain infrastructure.
Citigroup is evaluating the potential launch of its own U.S. dollar-backed stablecoin, signaling a growing shift in sentiment among traditional financial institutions toward digital assets.
JPMorgan Chase CEO Jamie Dimon remains skeptical of stablecoins—but says ignoring them isn’t an option for the world’s most powerful bank.