After a two-year hiatus, U.S. financial services giant SoFi is stepping back into the cryptocurrency market, beginning with support for Bitcoin (BTC) and Ethereum (ETH) trading. The San Francisco-based firm revealed on June 25 that it will restart digital asset services later this year, expanding into stablecoins, crypto-backed loans, and staking.
This move marks a strategic shift for the publicly traded fintech company, which had paused crypto services in 2023 despite holding a New York BitLicense, one of the most stringent regulatory approvals for digital asset operations in the United States.
According to SoFi CEO Anthony Noto, the decision to return was influenced by both growing regulatory clarity and the company’s long-term vision of integrating blockchain technology into its core financial offerings.
“The future of financial services is being completely reinvented through innovations in crypto, digital assets, and blockchain more broadly,” Noto said in a press statement.
He emphasized that crypto functionality will be embedded throughout SoFi’s broader product ecosystem, including payments, savings, investments, loans, and insurance. The firm aims to become a comprehensive digital financial hub, offering crypto as a standard layer across its services.
SoFi’s re-entry into crypto has been anticipated since early 2025. During a January earnings call, Noto stated that the firm would return to crypto “aggressively” once there was more regulatory clarity around the sector.
That clarity seems to have arrived. The Office of the Comptroller of the Currency (OCC) issued a guidance letter in May permitting nationally chartered banks, such as SoFi Bank, N.A., to custody digital assets and offer crypto-related financial services. This significant regulatory development provided the green light for SoFi’s next phase of crypto innovation.
Initially, SoFi will bring back Bitcoin and Ethereum trading, with plans to add stablecoin support shortly after. The company has also hinted at:
Crypto staking services
Borrowing against crypto holdings
Digital asset custody
Blockchain-enabled financial products
While no exact start date has been provided, SoFi confirmed the rollout will begin before the end of 2025.
SoFi’s crypto operations were originally started in 2019, following its acquisition of the BitLicense from the New York State Department of Financial Services (NYDFS). At the time, the firm was one of the few traditional financial service companies licensed to operate in New York’s heavily regulated crypto environment.
However, SoFi halted crypto offerings in 2023, citing internal review and market conditions. The decision surprised many, especially after the firm had integrated crypto services directly into its investing platform.
SoFi’s renewed focus on digital assets comes during a period of renewed optimism in the U.S. crypto industry, partially driven by the policies of President Donald Trump, who returned to office in January 2025.
Under the Trump administration, several pro-crypto measures have been introduced, including eased restrictions on digital asset firms and a push for domestic blockchain development. These policy shifts have helped restore institutional confidence in the sector.
The OCC’s interpretive guidance enabling banks to custody crypto is seen as a direct result of this regulatory pivot. For SoFi, this creates a competitive advantage as one of the few fintechs with both a bank charter and deep crypto experience.
Shares of SoFi Technologies (NASDAQ: SOFI) rose slightly on the day of the reveal, trading at $15.96, up 0.7%. The stock has gained approximately 13% year-to-date, and investors appear cautiously optimistic about the firm’s renewed crypto direction.
Market analysts believe SoFi’s integrated model—where users can invest, save, borrow, and now manage crypto in one app—could appeal to both retail and tech-savvy users. This “one-stop-shop” model may help SoFi compete with platforms like Coinbase, Robinhood, and PayPal, all of which offer limited or fragmented digital asset services.
The Road Ahead
SoFi is positioning itself not just as a crypto trading platform, but as a blockchain-native financial institution. By embedding digital assets across every part of its financial services suite, it aims to redefine user experience in the age of decentralized finance.
However, the firm must also navigate regulatory risks, competition from specialized crypto platforms, and technical challenges in rolling out crypto services at scale.
Still, SoFi’s re-entry sends a strong signal to the market: crypto is here to stay, and traditional financial institutions are no longer staying on the sidelines.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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