SoFi Plans Crypto Comeback Amid Easing Regulations
Coin WorldThursday, May 1, 2025 3:12 am ET
1min read
SoFi, a prominent financial services company, is planning an aggressive comeback into the cryptocurrency market, driven by the easing of federal regulations under the Trump administration. The company had previously exited the digital asset space in 2023 due to regulatory pressures but is now poised to re-enter with a comprehensive strategy.
CEO Anthony Noto confirmed the company's plans, citing a "fundamental shift" in the regulatory environment as the primary reason for their renewed interest. sofi had previously offered over 20 cryptocurrencies but had to halt services to secure its bank charter. The recent guidance from the Office of the Comptroller of the Currency has provided a clearer path for banks operating in the digital asset space, allowing SoFi to consider a swift return to crypto investing by the end of the year.
Noto revealed that SoFi's ambitions extend beyond simply relaunching crypto trading. The company aims to integrate blockchain technology across its core offerings within the next two years. This includes exploring crypto-based payment solutions and lending services backed by digital assets, marking a significant strategic pivot into the blockchain ecosystem. Noto emphasized that SoFi's aspirations for blockchain technology are as broad as for any other product, with plans to leverage the technology across lending, savings, spending, investing, and protecting.
SoFi is also considering innovative offerings such as crypto-backed loans and payment solutions tied to users’ digital holdings, indicating a deeper commitment to the sector. This renewed push comes at a time when the broader crypto market is experiencing a measured cooling, with the global market cap sitting at $2.92 trillion following a modest dip. Despite the pullback, the market's steady tone suggests resilience, with traders remaining composed and the absence of mass profit-taking hinting at growing confidence and sustained demand. This backdrop provides a promising environment for SoFi's crypto ambitions.
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