SoFi to Launch Crypto Remittances and Trading in Blockchain Expansion

U.S.-based fintech company SoFi (NASDAQ: SOFI) is reentering the crypto space with new blockchain-powered services. The firm announced it will roll out international remittances using stablecoins and allow users to invest in major cryptocurrencies like Bitcoin and Ethereum later this year.

The upcoming remittance service will enable users to send U.S. dollars or select stablecoins abroad via well-known blockchain networks. The transactions will be processed 24/7 and converted into local currencies before being deposited directly into recipients’ accounts. SoFi says this system will be faster and more affordable than traditional wire transfers or bank-based remittance services.

In addition to crypto remittances, SoFi plans to relaunch its cryptocurrency trading platform. Users will be able to buy, sell, and hold digital assets including BTC and ETH. The company is also considering offering future features such as crypto staking, lending against digital assets, and providing blockchain infrastructure to third parties through its Galileo platform.

This strategic shift follows SoFi’s suspension of crypto services in 2023, which was necessary to obtain a national banking license amid regulatory challenges. Now, with updated guidance from the Office of the Comptroller of the Currency allowing banks to offer crypto custody and stablecoin services, SoFi is moving swiftly to capitalize on digital asset innovation.

CEO Anthony Noto emphasized the company’s renewed commitment to digital finance, stating, “The future of financial services is being completely reinvented through innovations in crypto, digital assets, and blockchain more broadly.”

SoFi’s move highlights a growing trend among fintech platforms seeking to integrate blockchain technology to offer faster, cheaper, and more versatile financial services globally. As regulatory clarity improves, platforms like SoFi are positioning themselves to become key players in the evolving crypto ecosystem.