SoFi Plans Crypto Comeback Amid New US Regulations

SoFi is gearing up to re-enter the crypto market by the end of 2025, according to CEO Anthony Noto. After being forced to drop crypto investing in late 2023, the fintech bank is now planning a much bigger push into digital assets, thanks to a shift in the regulatory environment under the Trump administration.

The company had to exit the crypto business as a condition of receiving a bank charter during a period of heightened federal scrutiny. At the time, customers could access more than 20 cryptocurrencies through SoFi’s platform. Those who didn’t sell their holdings were redirected to Blockchain.com.

But that’s changing now.

“We’re going to re-enter the crypto business, which we had to exit,” Noto said in an interview with CNBC. “We’ll re-enter the business of allowing our members to invest in cryptocurrency. We want to actually make a bigger, more comprehensive push into cryptocurrency [this time], to include really providing crypto or blockchain capabilities in each product area that we have.”

This renewed strategy follows fresh guidance from the Office of the Comptroller of the Currency (OCC), which, according to Noto, marks a “fundamental shift in the regulatory landscape.” A recent OCC letter reportedly clarified that banks under its supervision can operate in crypto businesses—paving the way for traditional institutions like SoFi to step back in.

SoFi isn’t alone in its ambitions. The broader banking industry appears to be warming up to digital assets once again. In January, the CEOs of Bank of America and Morgan Stanley both indicated their readiness to engage with crypto. At the same time, companies like Circle and BitGo are planning to apply for bank charters or licenses, signaling a deeper merger between traditional finance and the crypto sector.

While many firms are still feeling pressure from ongoing economic uncertainty, SoFi is moving in the opposite direction. The company just posted its fastest revenue growth in more than a year and even raised its 2025 guidance for revenue and earnings.

Looking ahead, Noto said SoFi is not only planning to allow crypto investments again by year-end, but also intends to integrate crypto or blockchain technology across all its product lines over the next six to 24 months.

“Our aspirations are as broad as they are for any other product that we have, and we believe we can leverage the technology across lending and savings and spending and investing and protecting,” he said.

The expansion could happen even faster through acquisitions.

SoFi is also exploring more advanced crypto offerings. According to Noto, future services could include borrowing cash using crypto assets held with SoFi as collateral, as well as integrating crypto payments into the company’s ecosystem.

The return of SoFi to the crypto space highlights how changing political and regulatory dynamics could reshape the relationship between traditional banks and digital assets in the months ahead.