US Major Digital Bank SoFi Reenters Crypto Market: Is It a Sign for Others?
Coinspeaker
US Major Digital Bank SoFi Reenters Crypto Market: Is It a Sign for Others?
US digital bank SoFi Technologies is set to reintroduce cryptocurrency services by the end of 2025. It marks a significant shift from its decision in 2023 to suspend such offerings.
This move aligns with recent regulatory changes that have created a more accommodating environment for financial institutions engaging in digital assets.
In a recent CNBC interview, CEO Anthony Noto expressed enthusiasm about the company’s renewed crypto initiatives:
“We’re re-entering the crypto business, which we had to exit. We’ll allow our members to invest in cryptocurrency and aim to integrate blockchain capabilities across all our product areas.”
Why SoFi Initially Left the Crypto Space
SoFi’s previous withdrawal from the crypto space was influenced by stringent regulatory scrutiny during its pursuit of a U.S. bank charter. However, new guidance from the Office of the Comptroller of the Currency (OCC) in March 2025 has eased the regulatory burden, enabling banks to engage more freely with cryptocurrency services.
The company plans to offer a comprehensive suite of crypto-related services, including investment options, blockchain integration in lending and savings products, and potentially, crypto-based payment solutions. This strategic expansion reflects SoFi’s commitment to embracing innovative financial technologies and meeting the evolving needs of its clientele.
Trump Administration’s Impact on Cryptocurrency
Since taking office, President Donald Trump has implemented several initiatives that have significantly influenced the cryptocurrency landscape in the United States: 
- Establishment of the Strategic Bitcoin Reserve: In March 2025, President Trump signed an executive order to create a Strategic Bitcoin Reserve, utilizing Bitcoin assets already held by the federal government. This move positions the U.S. as a prominent holder of Bitcoin globally, aiming to strengthen national financial security and promote the country’s leadership in digital assets. 
- Regulatory Reforms: The Trump administration has advocated for a more crypto-friendly regulatory environment. Notably, the Securities and Exchange Commission (SEC) under his leadership has dismissed lawsuits against major crypto firms like Coinbase and Ripple, signaling a shift towards more supportive policies for the industry. 
- Promotion of Crypto Innovation: President Trump has appointed officials with pro-crypto stances, such as the designation of a “crypto czar” David Sacks, to oversee and promote the growth of the digital asset sector. Additionally, the administration has hosted summits and engaged with industry leaders to foster innovation and address regulatory challenges. 
These actions reflect the administration’s commitment to positioning the United States at the forefront of the global cryptocurrency movement, encouraging innovation, and providing clearer regulatory pathways for industry participants.
US Major Digital Bank SoFi Reenters Crypto Market: Is It a Sign for Others?
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US Major Digital Bank SoFi Reenters Crypto Market: Is It a Sign for Others?
Coinspeaker
US Major Digital Bank SoFi Reenters Crypto Market: Is It a Sign for Others?
US digital bank SoFi Technologies is set to reintroduce cryptocurrency services by the end of 2025. It marks a significant shift from its decision in 2023 to suspend such offerings.
This move aligns with recent regulatory changes that have created a more accommodating environment for financial institutions engaging in digital assets.
In a recent CNBC interview, CEO Anthony Noto expressed enthusiasm about the company’s renewed crypto initiatives:
“We’re re-entering the crypto business, which we had to exit. We’ll allow our members to invest in cryptocurrency and aim to integrate blockchain capabilities across all our product areas.”
Why SoFi Initially Left the Crypto Space
SoFi’s previous withdrawal from the crypto space was influenced by stringent regulatory scrutiny during its pursuit of a U.S. bank charter. However, new guidance from the Office of the Comptroller of the Currency (OCC) in March 2025 has eased the regulatory burden, enabling banks to engage more freely with cryptocurrency services.
The company plans to offer a comprehensive suite of crypto-related services, including investment options, blockchain integration in lending and savings products, and potentially, crypto-based payment solutions. This strategic expansion reflects SoFi’s commitment to embracing innovative financial technologies and meeting the evolving needs of its clientele.
Trump Administration’s Impact on Cryptocurrency
Since taking office, President Donald Trump has implemented several initiatives that have significantly influenced the cryptocurrency landscape in the United States: 
- Establishment of the Strategic Bitcoin Reserve: In March 2025, President Trump signed an executive order to create a Strategic Bitcoin Reserve, utilizing Bitcoin assets already held by the federal government. This move positions the U.S. as a prominent holder of Bitcoin globally, aiming to strengthen national financial security and promote the country’s leadership in digital assets. 
- Regulatory Reforms: The Trump administration has advocated for a more crypto-friendly regulatory environment. Notably, the Securities and Exchange Commission (SEC) under his leadership has dismissed lawsuits against major crypto firms like Coinbase and Ripple, signaling a shift towards more supportive policies for the industry. 
- Promotion of Crypto Innovation: President Trump has appointed officials with pro-crypto stances, such as the designation of a “crypto czar” David Sacks, to oversee and promote the growth of the digital asset sector. Additionally, the administration has hosted summits and engaged with industry leaders to foster innovation and address regulatory challenges. 
These actions reflect the administration’s commitment to positioning the United States at the forefront of the global cryptocurrency movement, encouraging innovation, and providing clearer regulatory pathways for industry participants.
US Major Digital Bank SoFi Reenters Crypto Market: Is It a Sign for Others?
Read More