SoFi Set to Make Major Move in Cryptocurrency Amid New Regulatory Environment
Author: Helen Brown | Edited by: Stephen Alpher April 29, 2025, 7:11 PM
SoFi is set to resume crypto services for its clients after pausing them in 2023 to avoid disrupting its ambitions to become a regulated bank.
“We’re planning to get back into the cryptocurrency business that we had to exit,” SoFi CEO Anthony Noto told CNBC. “We’re going to re-enter the space that allows our users to invest in cryptocurrency. We’re looking to make a bigger, more comprehensive move into cryptocurrency to bring blockchain or cryptocurrency capabilities to every space that we operate in.”
The tech company offered its customers access to more than 20 tokens back in 2023, but decided to stop doing so as it was in the process of obtaining a U.S. banking charter when scrutiny of the digital asset industry became decidedly tighter under the Biden administration.
Noto said that thanks to new guidance from the Comptroller of the Currency issued in March that promises relief for banks operating in the sector, the company will be able to begin offering cryptocurrency investments by the end of this year.
Over the next 24 months, SoFi will also aim to integrate blockchain technology into all of its core products, he said, and the company may also offer cryptocurrency payments and crypto-backed lending.
“Our ambitions are as broad as with any of our products, and we are confident that we can use this technology in lending, saving, spending, investing and protection,” Noto said.
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