SoFi Revives Crypto Trading and Plans Web3 Expansion

SoFi Technologies is making a strong return to crypto. After stepping away from digital assets in 2023, the company is now relaunching crypto trading and planning a broader push into Web3 products. This revival comes amid a shift in regulatory tone, which SoFi says is giving banks more room to explore crypto-related services.

In a new statement, SoFi confirmed that customers will once again be able to buy, sell, and hold cryptocurrencies like Bitcoin and Ethereum within their accounts. The company launched its trading platform in 2019, but withdrew due to uncertainties. 

Beyond that, the online bank also has plans to introduce stablecoin offerings and explore crypto-backed lending. It’s a bold move for a company that had to pause its crypto operations to secure a bank charter under tougher regulations.

Thanks to changing times, SoFi’s CEO, Anthony Noto, believes the financial sector is entering a new phase, one where blockchain isn’t just an experiment but a foundation.

“The future of financial services is being completely reinvented through innovations in crypto, digital assets and blockchain,” Noto said. “These technologies will touch every part of our business—whether that’s paying, borrowing, investing, or protecting assets.”

Blockchain Meets Borderless Finance

A core part of SoFi’s strategy is its upcoming global remittance service. Set to launch within its mobile app, this feature will allow users to send money across borders using blockchain technology. 

Many commentators have described the move as significant. The global remittance market exceeds $800 billion annually, with millions of workers depending on it to send money to family members abroad. By using blockchain for these transfers, SoFi aims to cut costs and improve speed. These are two areas where traditional money transfer services still fall short.

This renewed focus on digital assets also comes at a time when stablecoins are back in the spotlight. Malaysia recently launched a digital asset hub to test stablecoins, while South Korea’s central bank is exploring a gradual rollout.

SoFi’s plan to offer stablecoins fits into this global trend. But the difference is its banking foundation, which gives it an edge when it comes to trust and compliance.

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