CEO Anthony Noto calls blockchain and crypto a “super cycle technology” as SoFi prepares to launch its own stablecoin
SoFi Expands Into Crypto Trading Amid Regulatory Clarity
SoFi Technologies, one of the United States’ few nationally chartered banks, has officially launched crypto trading services for its customers, marking a significant move toward mainstream financial integration of digital assets.
The service began rolling out on Monday in phases, allowing users to trade Bitcoin (BTC), Ethereum (ETH), and several other major cryptocurrencies. More customers are expected to gain access over the coming weeks.
“SoFi is the first and only nationally chartered bank to offer crypto trading directly to consumers,” said Anthony Noto, CEO of SoFi, in an interview with CNBC. He explained that the decision followed the Office of the Comptroller of the Currency (OCC) easing its stance in March, allowing regulated banks to engage in crypto-related services.
Reentry Into Crypto After Regulatory Pause
SoFi temporarily exited the crypto market in 2023 to secure its national bank charter under a stricter regulatory environment. However, in June 2025, the bank reentered the digital asset space by enabling international blockchain-based payments, allowing fiat-to-crypto conversions and on-chain transfers.
“This marks a full-circle return for SoFi,” noted a market analyst. “It signals that traditional finance is finding confidence again in the digital asset ecosystem as compliance frameworks mature.”
In a major upcoming move, SoFi plans to launch SoFi USD, a stablecoin backed 1:1 by U.S. dollar reserves, which will be integrated into the bank’s lending, borrowing, and payment systems.
“We believe blockchain and cryptocurrencies are a super cycle technology just like AI,” said Noto. “They’ll become pervasive across the entire financial system.”
However, Noto also cautioned against non-bank-issued stablecoins, questioning the safety of reserves and potential credit or duration risk. “Just because a stablecoin claims to be backed dollar-for-dollar doesn’t mean those dollars will be there when you try to redeem them,” he warned.
With $41 billion in assets and 12.6 million members, SoFi’s move reflects strong retail appetite for crypto exposure. Internal surveys revealed that 60% of members are interested in digital asset investments.
Noto himself disclosed a 3% personal allocation to crypto, mainly in Bitcoin, describing it as an investment in technology, not currency. “Imagine if, in 1990, you could buy a piece of the World Wide Web,” he said. “That’s how I view crypto networks — as infrastructure for the next generation of finance.”
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.