SoFi Relaunches Crypto Services After Two-Year Hiatus

TLDR

• SoFi plans to reintroduce crypto investing and remittances.
• The relaunch will occur over the next 6 to 24 months.
• SoFi reported a $71 million profit in Q1 2025.

SoFi Technologies Inc. has announced the relaunch of its crypto services after a two-year hiatus. This follows an easing of regulatory restrictions on national banks. The company plans to reintroduce crypto investing, offer international remittances, and expand into crypto-backed loans. SoFi is positioning itself at the forefront of digital finance integration.

Anthony Noto, CEO of SoFi, is leading these developments. Formerly COO of Twitter and CFO of the NFL, Noto brings significant experience from both traditional and digital finance. SoFi exited direct crypto trading in 2023 to secure a national bank charter, though it retained other financial services during this period.

Details on SoFi’s Crypto Offerings

SoFi’s previous crypto offerings included Bitcoin (BTC), Ethereum (ETH), and over two dozen other digital assets. The relaunch is expected to cover major cryptocurrencies like BTC and ETH, as well as select stablecoins. While full asset support details are pending, the initial offerings are likely to be similar to past options.

The return of crypto services is set to take place over the next 6 to 24 months. Market observers should monitor wallet flows and volumes on SoFi’s platforms during this period. This rollout follows guidance from the Office of the Comptroller of the Currency (OCC), which clarified conditions for national banks to offer crypto services.

Financial and Regulatory Context

SoFi has reported strong financial results in Q1 2025, with a $71 million profit and the addition of 800,000 new customers. This financial strength provides robust resources for scaling up its crypto services. CEO Anthony Noto stated, “The future of financial services is being completely reinvented through innovations in crypto, digital assets, and blockchain more broadly.”

The future of financial services is being completely reinvented through innovations in crypto, digital assets, and blockchain more broadly.

Anthony Noto, CEO of SoFi

No specific funding allocations or grants have been announced yet. However, the regulatory shift presents an opportunity for mainstream banking to include digital assets. Previous moves by large U.S. banks into digital assets, such as J.P. Morgan and Goldman Sachs, have often increased on-chain activity and liquidity.

Community and Market Reactions

While official on-chain metrics are not yet available, SoFi’s relaunch is expected to impact major cryptocurrencies. Community discussions on social media focus on SoFi’s efforts to make digital finance accessible to mainstream users. Further details will be available closer to the launch date.

• SoFi introduces new crypto capabilities for financial services members.
• SoFi’s innovative crypto solutions for enhancing member financial options.