SoFi Re-enters Crypto Market with Blockchain Remittances and Trading Services

Coin WorldWednesday, Jun 25, 2025 3:48 pm ET
1min read

SoFi, a leading financial technology company, has declared its intention to re-enter the cryptocurrency market by introducing international remittances facilitated through blockchain networks and stablecoins. This strategic decision follows the company's exit from digital asset services in 2023, marking a significant shift in its approach to the crypto space under the Trump administration.

The upcoming remittance service will enable users to send U.S. dollars and select stablecoins to recipients abroad. Transactions will be processed using well-known blockchain networks, allowing for around-the-clock fund transfers that can be quickly converted into local currencies and deposited into recipients' accounts. This method is anticipated to be significantly cheaper and faster than traditional remittance options such as wire transfers or bank-based services.

In addition to the remittance service, SoFi plans to relaunch its crypto trading services, allowing users to buy, sell, and hold major cryptocurrencies like bitcoin and Ethereum's ether later this year. Future services may include staking, borrowing against crypto holdings, and providing blockchain technology infrastructure to third parties through SoFi’s Galileo platform.

This move comes as CEO Anthony Noto shared plans earlier this year to re-enter the crypto business. The firm had previously suspended digital asset-related services in 2023 to obtain a banking license under the previous administration's stricter regulatory environment towards crypto. The change is supported by recent guidance from the Office of the Comptroller of the Currency, which allows nationally chartered banks to offer crypto custody and stablecoin-related services.

Noto emphasized the transformative potential of crypto, digital assets, and blockchain technology in reinventing financial services. "We’re accelerating our efforts to give members more choice and more control, whether they’re investing, sending money across borders, or planning for their future," he stated.

SoFi's decision to re-enter the crypto market reflects a broader trend of financial institutions recognizing the potential of blockchain technology. By leveraging stablecoins for remittances, SoFi aims to streamline cross-border transactions, reducing costs and increasing speed. This development positions SoFi as a forward-thinking financial technology company committed to innovation and adapting to changing market conditions.

In summary, SoFi's announcement to launch blockchain remittances with stablecoins and re-enter the crypto investing market is a strategic move that highlights the company's dedication to innovation and its recognition of the potential of blockchain technology. This initiative is expected to enhance SoFi's service offerings and attract a new segment of customers interested in cryptocurrency investing and blockchain technology.