Fintech lender SoFi Technologies has marked a significant milestone by reopening crypto trading services for retail customers after nearly two years of suspension. This decision comes as SoFi secures its national banking license and positions itself as the first U.S. bank to reintroduce cryptocurrency access to everyday users, compliant with the recent modifications in federal regulations. Analysts suggest that this bold move may inspire other banks to adopt similar offerings.
Starting this week, select customers will have the opportunity to buy and sell cryptocurrencies such as Bitcoin and Ether through the SoFi app. The plan is to extend this feature to all 12.6 million SoFi members by the end of 2025. CEO Anthony Noto emphasized the importance of providing a secure and regulated avenue for users to engage in the evolving landscape of finance, stating, “Today marks a pivotal moment when banking meets crypto in one app.”
This relaunch is part of a larger trend in Washington, where federal attitudes toward cryptocurrency integration in traditional finance are shifting. The Biden administration’s previous hesitance has given way to a clearer regulatory framework under the Trump administration. Influential federal regulators, including the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC), have recently clarified guidelines that enable banks to engage in crypto custody and transaction services.
The ripple effect of SoFi’s actions may soon be seen among other major financial institutions. Reports indicate that Charles Schwab, Morgan Stanley, and PNC Financial are exploring similar crypto offerings. Analysts anticipate that the rollout of these digital trading services will pave the way for advancements in stablecoin-based payment tools and tokenized deposit products, as banks adapt to remain competitive against fintech and blockchain innovators.
Recent regulatory changes are underscored by President Trump’s July signing of a federal framework for stablecoins, allowing banks to use dollar-pegged tokens as collateral for loans and settlement processes. Prominent banking leaders, including Jamie Dimon of JPMorgan, Jane Fraser of Citigroup, and Brian Moynihan of Bank of America, have expressed interest in entering the stablecoin and tokenized deposit markets.
SoFi’s recommencement of crypto trading fits into a broader strategy aimed at enhancing its digital finance ecosystem. In a recent earnings call, Noto outlined ambitious plans for 2026, which include launching a SoFi-branded stablecoin and developing services that enable customers to borrow against their cryptocurrency holdings. The company has also initiated cross-border payments between the U.S. and Mexico, utilizing Bitcoin’s Lightning Network—marking one of the first integrations of this protocol by a bank.
As several crypto-native companies like Ripple, BitGo, Circle, and Coinbase pursue national trust bank charters, SoFi’s actions could serve as a pivotal case in the future of banking and cryptocurrencies. While investor reactions to the latest announcement have been somewhat subdued, the move reinforces SoFi’s status as a frontrunner in a space that Wall Street is beginning to embrace once more.
Despite the encouraging developments, opinions on SoFi’s stock are mixed. Of the 16 analysts tracking the company over the last three months, five have rated it a Buy, seven suggest a Hold, and four recommend a Sell. The consensus 12-month price target for SoFi stands at $27.21, indicating a potential downside from its most recent closing price.
