SoFi Technologies CEO Anthony Noto announced that the fintech bank will restart cryptocurrency investing services by the end of 2025, following new guidance from the Office of the Comptroller of the Currency published in March that reduces regulatory burdens on banks engaged in digital assets.
SoFi was forced to discontinue crypto investing services in late 2023 as a condition of receiving a bank charter during heightened federal scrutiny of digital assets under the Biden administration. Noto told CNBC in an interview that the company previously provided access to more than 20 crypto coins for customers, who were required to transfer their holdings to Blockchain.com or liquidate them. The "fundamental shift" in the regulatory landscape under the Trump administration enables SoFi to make an aggressive push into crypto and integrate blockchain technology across all major product lines over the next 6 to 24 months. The company's plans include crypto payments and lending against crypto assets, with Noto stating that our aspirations are as broad as they are for any other product that we have, and we believe we can leverage the technology across lending and savings and spending and investing and protecting. SoFi posted first-quarter results on Tuesday that exceeded expectations with the fastest revenue growth in more than a year, while also raising its 2025 revenue and earnings guidance.
The announcement provides early evidence that banks are pushing further into crypto during the Trump era, as crypto firms including Circle and BitGo are simultaneously planning to apply for bank charters or licences. SoFi's CEO specifically cited a recent OCC letter stating that OCC-regulated banks can operate in crypto businesses, representing a fundamental shift in the regulatory landscape. The fintech firm, which positions itself as a "one-stop shop" for digital finance, should be able to offer crypto investing by year-end barring unforeseen circumstances, according to Noto.
Sources:
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Hugh Son
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Micah Zimmerman
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SoFi is set to reintroduce cryptocurrency investing for its clients by year-end, after pausing services in 2023 due to its banking charter strategy—and plans a broad crypto push across products in light of new OCC guidance. :contentReference[oaicite:1]{index=1}
