SoFi becomes first U.S. national bank to offer crypto trading
SoFi Technologies, Inc. (NASDAQ: SOFI) has become the first and only nationally chartered bank in the U.S. to launch cryptocurrency trading for retail customers.
The new service, called SoFi Crypto, enables members to buy, sell and hold digital assets within the same app they use for banking, borrowing and investing — all under an FDIC-insured framework.
The rollout marks a major milestone for SoFi’s strategy to integrate blockchain technology into traditional finance.
According to the company, SoFi Crypto will initially offer trading for dozens of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH) and Solana (SOL), with broader access expected in the coming weeks.
Anthony Noto, chief executive officer of SoFi Technologies Inc., arrives for the morning session at the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, US, on Wednesday, July 9, 2025.
“This is a pivotal moment where banking meets crypto in one app,” said SoFi CEO Anthony Noto. “As the first and only nationally chartered bank to launch crypto trading to consumers, we are uniquely positioned to drive innovation built on security, stability and transparency.”
SoFi emphasized that its crypto platform is built with “bank-grade” security and regulatory oversight, distinguishing it from most digital-asset exchanges.
Members can instantly purchase crypto using funds in their SoFi Checking or Savings accounts — both FDIC insured — without transferring money elsewhere. The integrated experience aims to reduce friction for users while maintaining a focus on compliance and safety.
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The company also highlighted educational tools within the app designed to guide new investors. Users can access in-app resources explaining how cryptocurrencies fit within broader financial goals and risk tolerance. SoFi reiterated that crypto assets are not bank deposits and are not insured by the FDIC or SIPC.
Members can now join the waitlist for early access to SoFi Crypto, with promotional rewards available through early 2026. They can also win one Bitcoin by joining the waitlist by Nov. 30, opening a crypto account, and making three qualifying transactions of at least $10 by Jan. 31, 2026.
The launch comes as U.S. consumer interest in digital assets continues to rise. SoFi reported that 60% of its members who already own crypto would prefer to trade through a licensed bank rather than a crypto trading exchange.
Stablecoin, crypto remittances, crypto lending on the cards
Beyond trading, SoFi said it plans to expand its blockchain initiatives to include a U.S. dollar-backed stablecoin, global crypto-enabled remittances and integrate crypto into its lending and infrastructure services.
These efforts aim to leverage digital assets to reduce transaction costs and accelerate payments across its financial ecosystem.
Crypto market attempts recovery
The crypto market has been attempting to recover from the losses suffered during the last few weeks but to little affect. The total market cap has dropped 1.32% in the last 24 hours to $3.49 trillion.
BTC was down 1.41% as it trades at $103,548.79. ETH is down 0.86% as it trades at $3,493.90.
SOL has fallen 3% in a day to trade at $160.77 at press time. Nonetheless, it has still gained by a modest 1.32% within a week.
The sixth-largest cryptocurrency by market cap, Solana is among the leading blockchain ecosystems. The network’s builders and investors will gather at the Solana Breakpoint in Abu Dhabi in a few weeks, where they will explore key strategic and operational concerns at the annual developer and ecosystem conference.
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