TLDR

SoFi launched crypto trading for retail customers on Tuesday, becoming the first US bank to offer cryptocurrency trading
The fintech suspended its previous crypto service two years ago to obtain a national banking license
Select retail customers can now trade bitcoin, ethereum, and solana, with plans to roll out to all 12.6 million customers by end of 2025
SoFi plans to launch its own dollar-pegged stablecoin and integrate crypto into lending services
The OCC issued regulatory clarity in spring 2025 allowing banks with SoFi’s license to offer crypto products

SoFi rolled out cryptocurrency trading to retail customers on Tuesday. The move makes the fintech bank the first US lender to offer digital asset trading.

The company previously offered crypto trading through its app. However, SoFi agreed to shut down that service two years ago to secure approval for its national banking license.

Starting Tuesday, select retail customers can trade bitcoin, ethereum, and other digital assets again. The company plans to extend access to all 12.6 million customers before the end of 2025.

SoFi Technologies, Inc., SOFI

“Today marks a pivotal moment when banking meets crypto in one app,” CEO Anthony Noto said in a statement. The platform will let customers buy, sell, and hold dozens of cryptocurrencies.

The launch comes after regulatory guidance from the Trump administration eased the path for banks to enter the crypto space. US banks had largely avoided direct crypto involvement due to regulatory uncertainty.

In May, the Office of the Comptroller of the Currency clarified that banks can engage in crypto custody and execution activities. The Federal Deposit Insurance Corporation issued similar guidance earlier in the year.

“What gives us confidence is clarity,” Noto said. He explained that the OCC issued guidance in spring 2025 permitting banks with SoFi’s exact license to offer crypto and blockchain products.

Biden-era regulators had discouraged banks from entering the crypto market. That stance reversed swiftly during President Trump’s first year in office.

Major Banks Following SoFi’s Lead

Several major US banks plan to launch similar crypto services in the coming months. Charles Schwab, Morgan Stanley, and PNC are expected to offer retail crypto trading.

JPMorgan Chase CEO Jamie Dimon, Citigroup CEO Jane Fraser, and Bank of America CEO Brian Moynihan have all indicated plans to work with dollar-pegged stablecoins. These executives are exploring tokenized deposits as well.

President Trump signed a federal framework for stablecoins in July. This legislation set the stage for banks to use these assets as payments or collateral for loans.

SoFi’s Crypto Roadmap

SoFi outlined what it called “ambitious” crypto plans during its third quarter earnings call last month. The company intends to issue its own US dollar-pegged stablecoin.

Stablecoins are cryptocurrencies designed to maintain a fixed value. They are commonly used to move money within the crypto market.

The fintech also plans to let customers borrow against their crypto holdings. SoFi already enables customers to send payments to and from Mexico using bitcoin’s Lightning Network.

The company said it is integrating crypto into its lending and infrastructure services. Institutional access to the platform is “right around the corner,” according to Noto.

Several crypto-native firms are pursuing national trust bank charters from the OCC. Ripple, BitGo, Circle, and Coinbase are waiting for approval of these specialized banking licenses.

Only Anchorage Digital currently holds that charter among crypto firms. However, it does not serve retail customers directly.

Unlike SoFi’s full-service license, the national trust bank charter does not permit accepting deposits and making loans. This gives SoFi an edge in offering comprehensive financial services.

Customer Preferences

SoFi surveyed its crypto customers about their platform preferences. About 60% said they would prefer trading and holding crypto with a licensed bank over a primary crypto trading platform.

The company positions itself as pursuing an “everything app” for financial services. Robinhood Markets and Coinbase Global are also working toward similar one-stop shop models.

Both Robinhood and Coinbase are non-bank companies with longer-tenured crypto trading platforms. SoFi is arriving later to the crypto trading space than some other fintechs.

The company is leaning on its banking license as a competitive advantage. Noto stated that SoFi has “the best license a company can have to offer crypto and blockchain services.”

Retail momentum and institutional entry have been boosting crypto adoption recently. This has driven a rise in trading activity that benefits platforms, brokers, and exchanges.

SoFi raised its annual profit forecast earlier this month after reporting record third-quarter results. The fintech now offers customers the ability to trade dozens of major cryptocurrencies including some of the world’s biggest tokens by market value.

The post SoFi Stock: Becomes First U.S. Bank To Launch Crypto Trading For Retail Users appeared first on Blockonomi.

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Filed under: Bitcoin - @ November 11, 2025 1:25 pm