SoFi Technologies, Inc. (NASDAQ:SOFI), the one-stop shop for digital financial services, today announced the launch of SoFi Crypto.
With SoFi Crypto, members will be able to buy, sell, and hold dozens of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), on a platform built for both first-time and experienced crypto investors and users.
SoFi Crypto’s phased rollout starts today and will become available to more members over the coming weeks.
“Today marks a pivotal moment when banking meets crypto in one app, on a trusted platform, and driven by our core mission to help our members get their money right,” said Anthony Noto, CEO of SoFi. “I believe blockchain technology will fundamentally change EVERY way finance is done throughout the world by making money movement faster, cheaper and safer, while opening new ways for people to borrow better, invest better, spend and save better. It’s critical to give our members a secure and regulated way to step into the future of money. As the first and only nationally chartered bank to launch crypto trading to consumers, we are uniquely positioned to drive this innovation and set a new standard built on security, stability, and transparency.”
SoFi Crypto Gives Members:
- A Platform with Bank-Grade Stability and Security: Members can buy, sell and hold crypto with confidence knowing their assets are on a platform built with institutional-level security, rigorous compliance standards to provide safety and soundness, which is overseen by our nation’s bank regulators, and transparent operations.
- A Single, Integrated App: SoFi Members can instantly buy crypto assets with money sitting in their award-winning SoFi Money Checking or Savings account (FDIC insured) without moving the money to a new account. They can buy crypto the moment they’re ready, and keep their cash earning interest in a bank account when they’re not. With all their finances connected in one app, members can manage crypto alongside their everyday banking, borrowing and investing with no friction or delays.
- Education and Accessibility: One reason many people haven’t bought crypto yet is that they feel that they don’t understand it well enough. SoFi Crypto makes it easy to get started with in-app education, simple step-by-step guidance and seamless money movement. SoFi seeks to help members make informed decisions about how crypto fits into their financial lives and risk tolerance. Crypto and other digital assets are not bank deposits, not insured by the FDIC or SIPC, not guaranteed by any bank, and their value can go up or down — sometimes losing all of their value.
This launch is the beginning of SoFi’s broader strategy to weave blockchain innovation throughout its entire ecosystem. SoFi is currently leveraging blockchain to power global crypto-enabled remittances that make sending money internationally faster and more affordable. SoFi also plans to introduce a USD stablecoin and integrate crypto into its lending and infrastructure services to unlock lower-cost borrowing, faster payments, and new embedded financial capabilities for clients and members.
Members and prospective customers can join the waitlist now to get priority access to SoFi Crypto.
