San Francisco-based SoFi is returning to the cryptocurrency space by resuming trades of Bitcoin and Ethereum.
SoFi Re-Enters the Crypto Space
SoFi officially returns to the cryptocurrency space with the resumption of trading Bitcoin and Ethereum on its platform. The company had previously exited the crypto market in 2023 after 'careful consideration,' despite having acquired a rare New York BitLicense in 2019. However, SoFi now plans to launch its crypto services later this year, marking a return to a focus on blockchain innovation.
Expanded Crypto Offerings
In addition to Bitcoin and Ethereum, the company’s roadmap includes stablecoin support, staking, and the capability to lend against crypto holdings. This will provide customers with more than just a buy and sell experience. This action positions SoFi in a more integrated role within the digital asset market, potentially making it a one-stop digital store for financial products.
Overall Impact and SoFi's Finances
SoFi CEO Anthony Noto highlighted the broader impact of blockchain technology, stating that cryptocurrency will be woven through all aspects of SoFi's offerings, including saving, investing, paying, and borrowing. This stance reflects the company’s intent to integrate digital assets as a core part of its ecosystem. SoFi's return aligns with recent regulatory clarity in the crypto space, contributing to a 13% rise in the company’s stock as of June 2025.
SoFi's return to the cryptocurrency sector, despite earlier operations being suspended, indicates growing confidence in digital assets and sets the stage for further market development.
