SoFi digital bank brings back crypto services after 2-year hiatus

SoFi reenters the crypto space with onchain remittances and digital asset trading following the ease of regulations in the US.

Online banking platform SoFi Technologies is making a major comeback in cryptocurrency after exiting the market due to regulatory challenges, reintroducing crypto trading and onchain remittances.

The American personal finance and fintech firm announced on Wednesday that it was reentering the cryptocurrency market and introducing “blockchain-powered international remittances,” marking a significant pivot after exiting the space in November 2023.

SoFi customers will be able to buy, sell, and hold crypto assets in their accounts, and the firm plans to eventually expand into stablecoin offerings and add the ability to borrow against crypto, according to a waitlist notice on its website. 

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