SoFi Technologies is officially stepping back into the cryptocurrency space, less than a year after its initial exit due to regulatory restrictions. The U.S.-based digital banking and fintech platform announced Wednesday a renewed push into crypto trading and blockchain-based international remittances, marking the beginning of a broader strategy centered around digital assets.
SoFi users will soon regain the ability to buy, sell, and hold cryptocurrencies directly through their accounts. The company also revealed plans to introduce stablecoin products, crypto-backed lending, and staking services in the near future.
One of the headline features in this relaunch is a new remittance system that leverages blockchain rails: fiat currency will be converted into crypto, transmitted on-chain, and then converted back into local currency for the recipient — streamlining the cross-border payment process.
“This is just day one,” said SoFi CEO Anthony Noto, who emphasized the company’s long-term vision to integrate blockchain and AI into its product suite to drive financial access and reduce costs.
SoFi is expanding its digital finance offerings to include asset-backed borrowing and enhanced payment capabilities, with a goal of creating a seamless financial ecosystem that merges traditional and decentralized finance.
The company’s Galileo platform will also play a key role by supporting third-party infrastructure such as wallets and crypto custody, positioning SoFi as both a direct service provider and a backbone for other fintech firms operating in Web3.
SoFi’s return follows its 2023 crypto exit, which was tied to the requirements of obtaining a U.S. banking charter. The company agreed to phase out crypto operations under tighter federal oversight.
However, recent regulatory developments have shifted the landscape: the Federal Reserve has softened its stance on “reputational risk” for banks working with crypto firms, and stablecoin legislation is gaining traction in Washington. These changes have re-opened the door for financial institutions like SoFi to engage with the digital asset space more aggressively.
Shares of SoFi Technologies (NASDAQ: SOFI) have climbed approximately 12% over the past week, reflecting investor enthusiasm around the company’s crypto comeback.
SoFi’s move aligns with a broader surge in venture investment across blockchain-based finance:
Interestingly, a significant portion of Mesh’s funding was settled using PayPal’s PYUSD stablecoin, underscoring stablecoins’ emerging role in modern venture and payment transactions.
Adding to the momentum, Stripe acquired stablecoin platform Bridge for $1.1 billion, a move seen as a major institutional endorsement of blockchain-based financial infrastructure.
As SoFi repositions itself within this rapidly evolving ecosystem, its renewed embrace of digital assets could set a precedent for how regulated fintech firms integrate crypto at scale, signaling a new chapter in the convergence of traditional finance and Web3.
June 2025, Cryptoniteuae