As Wall Street's biggest banks prepare to open the doors to crypto trading, fintech lender SoFi Technologies is moving first, rolling out the ability for everyday customers to buy, sell and hold cryptocurrencies directly inside its FDIC-insured banking app.

SoFi last month became the first nationally chartered U.S. bank to offer retail crypto trading, restarting a service it shut down two years ago to secure its banking license and marking a major step in the push to bring digital assets into the traditional financial system.

The launch comes as regulators reverse years of caution around crypto and as interest in digital assets surges again into year-end. The Office of the Comptroller of the Currency and FDIC have clarified that banks can now engage in crypto custody and execution, opening the door for major players like Charles Schwab, Morgan Stanley and PNC to follow SoFi's lead in the coming months.

For SoFi, the move fits into its strategy to become a one-stop shop where members can bank, borrow, invest (and now trade crypto) all in a single, regulated platform.

"I believe blockchain technology will fundamentally change EVERY way finance is done throughout the world by making money movement faster, cheaper and safer, while opening new ways for people to borrow better, invest better, spend and save better," SoFi CEO Anthony Noto said in a November press release. "It's critical to give our members a secure and regulated way to step into the future of money."

SoFi previously offered crypto trading through its app but exited the business in 2023 while pursuing approval for its national bank charter. Now, with that license in hand, the company is relaunching crypto trading directly inside SoFi Bank, giving customers access to more than 25 cryptocurrencies, including Bitcoin, Ethereum and Solana.

Here's What SoFi Changed 

Instead of moving money to a separate exchange, SoFi members can trade crypto directly using funds in their SoFi Checking and Savings accounts. Those accounts are FDIC insured.

That integration is SoFi's edge in a crowded crypto market dominated by non-bank platforms like Coinbase and Robinhood. According to internal company data, roughly 60% of SoFi members who own crypto say they would prefer to trade and hold digital assets with a licensed bank rather than a traditional crypto exchange.

After years of regulatory pressure that kept banks on the sidelines, President Donald Trump's administration has moved quickly to open the door for crypto activities inside federally regulated institutions. In July, Trump signed a federal framework for dollar-pegged stablecoins, while bank regulators clarified in May that custody and execution of crypto assets are permitted.

That move has triggered what many see as the next phase of crypto adoption. Bringing digital assets inside the banking system rather than keeping them in parallel ecosystems.

Beyond trading, Noto has outlined plans for SoFi to eventually issue its own stablecoin, expand blockchain-powered remittances, and allow customers to borrow against crypto holdings.

What SoFi Crypto Offers

With SoFi Crypto, members can:

• Buy, sell, and hold 25+ cryptocurrencies including BTC, ETH and SOL.
• Trade instantly using funds already sitting in SoFi Checking or Savings.
• Manage everything in one app alongside banking, investing, and borrowing.
• Learn as they go with in-app guidance designed for first-time users.

The platform is built with bank-grade security and oversight, though SoFi is clear that crypto itself is not FDIC insured and carries risk, like any digital asset investment.

SoFi's move points to the intensifying race among fintechs and banks to become the primary financial hub for younger consumers. Much like Robinhood and Coinbase, SoFi is chasing the idea of an "everything app" for money; one place where users can trade, save, spend, borrow and invest without leaving the ecosystem.

How to Start Trading Crypto With SoFi

To access SoFi Crypto, users need a SoFi Checking and Savings account. From there, members can open a crypto account, fund it through their bank balance, and begin trading directly inside the SoFi app as access rolls out.

For investors looking to explore digital assets inside a regulated banking platform (and manage crypto alongside the rest of their finances) SoFi's new offering brings that option into the mainstream.

Image: Shutterstock