- SoFi has announced that it’s bringing back crypto support after a 2-year hiatus
- SoFi will start by supporting Bitcoin and Ethereum before the end of the year
- The firm paused its crypto offering in 2023 without giving a concrete reason for the move
Financial services heavyweight SoFi has announced a return to the crypto scene after a two-year unexplained break. SoFi halted its crypto offerings in November 2023, saying the decision was after “careful consideration,” and gave its crypto users the option to either liquidate their holdings or migrate them to Blockchain.com, a leading crypto exchange. SoFi plans to resume offering crypto services sometime this year, with offerings ranging from crypto trading to crypto loans.
New SoFi, New Crypto Experiences
According to SoFi, the crypto return comes with its revamped platform. The new platform offers a “seamless” crypto experience that’s “manageable with the rest of [users] finances.” The firms said it’ll continue expanding its crypto offering to include crypto-based payment options and new staking features.
Next—that’s right, crypto is returning to SoFi! The new crypto experience is seamless and manageable with the rest of your finances, right from your all-in-one SoFi app.
Join the waitlist: https://t.co/2gyPevw3K8
— SoFi (@SoFi) June 25, 2025
SoFi revealed that re-embracing crypto “is just one of many ways [it’s] focusing on the future of financial services.” SoFi has asked those interested in being the first to try out the new platform to join a waitlist. It, however, disclosed that crypto holdings won’t be protected by the Securities Investor Protection Corporation (SIPC) or the Federal Deposit Insurance Corporation (FDIC) insurance.
According to SoFi CEO Anthony Noto, the future of financial services lies in crypto, blockchain, and digital assets. Noto disclosed that “crypto and blockchain innovations can and will be threaded through” the firm’s businesses.
PayPal, Mastercard, and Visa Already Exploring Crypto
SoFi’s decision to return to the crypto scene comes as other traditional financial services firms continue exploring the crypto world. PayPal, for example, has even launched its own stablecoin, PYUSD, to ease the movement of funds across borders.
PayPal CEO Dan Schulman believes that crypto has the potential to redefine the financial world. Other conventional financial firms like Mastercard and Visa are also exploring the crypto space.
With SoFi’s return to the crypto scene, it’s likely to boost crypto adoption among conventional fiat holders.
