SoFi becomes first U.S. national bank to integrate crypto trading into consumer platform

SoFi has launched a crypto trading initiative involving Bitcoin, Ethereum, and Solana, marking the entity’s expansion of its financial services into the crypto ecosystem. The initiative makes SoFi the first nationally chartered consumer bank in the United States to integrate crypto trading services into its platform.

SoFi, a federally regulated lending platform, has expanded its financial offerings into the digital asset ecosystem by integrating crypto trading services into its platform. The company announced on Tuesday that users will be able to buy, sell, and hold various crypto assets on its all-in-one financial platform. 

According to the announcement, the crypto-oriented feature will be introduced in phases and will be available to all users within a few weeks.

SoFi introduces Bitcoin, Ethereum, and Solana to its financial platform

$SOFI Crypto Launch. Here we go. 👏🏻👏🏻👏🏻 pic.twitter.com/3KuXytYc0l

— Daniel Newman (@danielnewmanUV) November 11, 2025

SoFi announced that users will have access to three significant crypto assets, including Bitcoin, Ethereum, and Solana. The entity cited that 60% of its users opt to trade digital assets with a regulated and licensed institution over the commonly used crypto exchanges due to trust issues. The application will allow users to interact with crypto assets by checking, saving, lending, and investing all on the same platform.

The lending platform aims to expand its blockchain integration with remittances, crypto-integrated lending products, and a USD stablecoin. The launch represents a transformative shift that marries existing traditional and emerging decentralized finance in the banking sector, a union that seemed impossible before the start of Trump’s second term. 

In 2023, SoFi temporarily halted crypto asset services while seeking a banking license. Crypto faced stricter regulations and active scrutiny at the time under the Biden-Harris administration and SEC chair Gary Gensler. 

The company had received conditional approval from the Office of the Comptroller of the Currency (OCC), which allowed it to offer banking services to its users. However, a filing dated September 2022 revealed that the approval specified that SoFi should not infiltrate the crypto industry or offer any crypto-related services to its users without additional approval from the OCC. 

OCC permits national chartered banks to explore crypto 

In a contrasting turn of events, the OCC issued interpretive letters 1183 and 1184 in March and May 2025, which permit national chartered banks, such as SoFi, to offer crypto-related services, including custody and execution services, on behalf of their users. The letters also permit the financial institutions to hold dollar deposits as reserves backing the stablecoin. The provision paved the way for SoFi’s reentry into the crypto space.

SoFi’s CEO Anthony Noto said that blockchain technology will “fundamentally change EVERY way finance is done throughout the world by making money movement cheaper, faster and safer.”

A press release published by the company in June detailed the company’s intention to create a futuristic environment where users can send money worldwide and simultaneously have access to tools and education to use cryptocurrency safely. 

The recent reforms align with this announcement, as the company has highlighted its commitment to providing education, recognizing that many do not understand cryptocurrency well enough. 

In August this year, Cryptopolitan reported that the FinTech company became the first U.S. bank to explore the Bitcoin Lightning Network to power international money transfers. The company formed a strategic alliance with Bitcoin infrastructure company Lightspark to integrate blockchain-powered payments to its platform. 

SoFi’s interests in the crypto arena had been evident even before regulations became favourable for traditional finance institutions to venture into decentralized finance. In 2023, the company selected Blockchain.com as its first digital asset partner. The partnership aimed at migrating SoFi crypto accounts at the time to Blockchain.com’s platform.

Other banks outside the U.S. have also explored digital assets for cross-border payments and other financial use cases. For instance, Brazil’s Nubank partnered with Lightspark in 2024 to explore Bitcoin Lightning payments. Analysts believe that SoFi’s move to explore crypto services as a regulated banking institution could inspire other U.S. banks, which have historically avoided crypto assets, to begin making strides in the space.

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