Quick take:
- SoFi said it is now the first and only Nationally Chartered Bank to launch crypto trading for consumers.
- The company began its phased roll-out of the platform on Tuesday, as it aims to become available to more users in the coming weeks.
- The platform also comes equipped with educational materials to help consumers in their journey to using digital assets.
SoFi Technologies, Inc. (NASDAQ: SOFI), has launched SoFi Crypto, becoming the “first and only” nationally chartered bank to launch crypto trading for consumers. With this launch, SoFi Bank now becomes “a one-stop platform” where people can bank, borrow, invest, and now buy, sell, and hold crypto – all in one place, the company said in a press release on Tuesday.
SoFi has already started a phased roll-out of the service with the intention of making it available to more people within weeks. SoFi Crypto comes equipped with a variety of features, including educational resources to help consumers in their journey to using digital assets.
The platform allows SoFi users to buy, sell, and hold dozens of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
Commenting on the announcement, Anthony Noto, CEO of SoFi, said in a statement: “Today marks a pivotal moment when banking meets crypto in one app, on a trusted platform, and driven by our core mission to help our members get their money right.”
“I believe blockchain technology will fundamentally change EVERY way finance is done throughout the world by making money movement faster, cheaper, and safer, while opening new ways for people to borrow better, invest better, spend and save better. It’s critical to give our members a secure and regulated way to step into the future of money,” he said.
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