SoFi Reintroduces Crypto Trading and International Remittances After Hiatus

SoFi Technologies is reentering the crypto market after a two-year pause, introducing blockchain-powered international remittances.

Key Developments

SoFi exited the crypto sector in November 2023 due to regulatory challenges.
The firm plans to offer crypto trading and on-chain remittances as regulations ease.
New guidance from the Office of the Comptroller of the Currency supports this pivot.
Users can buy, sell, and hold digital assets in their accounts.
Future offerings include stablecoins and borrowing against crypto holdings.
SoFi's Galileo platform will support third-party crypto infrastructure.

The Trump administration encourages crypto adoption through initiatives and reforms.
A Strategic Bitcoin Reserve is being established in several states, including Texas.
Texas plans to invest $10 million in Bitcoin for its reserve.
Arizona and New Hampshire are also preparing for similar investments.