SoFi Technologies CEO Anthony Noto has confirmed that the fintech company plans to re-enter the crypto market within the next six months. This decision follows a fundamental shift in the regulatory environment, influenced by updated guidance from the Office of the Comptroller of the Currency (OCC).
SoFi was previously forced to discontinue its crypto investing services in late 2023 as a condition for securing its bank charter. At the time, users could trade over 20 cryptocurrencies, but were either redirected to Blockchain.com or required to liquidate their holdings.
Thanks to updated OCC regulations, SoFi is preparing a broader, more integrated approach to crypto, embedding blockchain capabilities across all of its financial products.
Integrating blockchain
Over the next six to 24 months, SoFi intends to integrate crypto and blockchain technologies into its core offerings, including lending, saving, spending, investing, and insurance.
Future offerings could include crypto-backed loans and payment features that allow customers to transact directly using their digital assets.
With increasing customer demand for diversified investment options and a shift in regulatory attitudes, SoFi could capitalize on both traditional financial services and the growing appeal of blockchain-based technologies.
Shogun Lin
