SoFi Doubles Down on Crypto: Stablecoin Launch Headlines Aggressive 2025 Expansion

Fintech disruptor SoFi just dropped its crypto masterplan—and it's betting big on stablecoins to steal Wall Street's lunch.

The play: While traditional banks still treat crypto like a back-alley poker game, SoFi's rolling out the red carpet with a proprietary stablecoin. No half-measures here—this is full-throttle DeFi adoption dressed in a regulatory-compliant suit.

Why it matters: The move positions SoFi as the bridge between crypto natives and the 401(k) crowd. Their secret sauce? Packaging blockchain's wild west potential with FDIC-insured polish.

The cynical take: Nothing says 'mainstream adoption' like financial institutions finally realizing they can't ignore the $2T crypto economy—especially when there's 30% margins on the table.

One thing's clear: The company that made student loans sexy now aims to do the same for digital assets. Whether Wall Street's ready or not.

SoFi CEO Anthony Noto outlined an aggressive cryptocurrency expansion plan following strong second-quarter earnings, announcing plans for staking services, crypto-backed borrowing, and a proprietary stablecoin as the fintech intensifies competition with rivals Robinhood and eToro.

📣 Another record-breaking quarter for SoFi! In Q2 we delivered record net revenue growth to the highest in two years and record member and product growth.

For more details visit: https://t.co/1WnTKjtK3z pic.twitter.com/jZaJ6tLTNr

Speaking on an earnings call Tuesday, Noto described crypto as a potential "game changer" and revealed SoFi is significantly expanding its crypto workforce ahead of relaunching spot trading by year-end. The announcement comes as traditional fintech platforms race to capture market share in digital assets.

"We see opportunities across our entire platform, including offering stablecoins, providing members the ability to borrow against their crypto assets, expanding payment options, and introducing new staking features," Noto said.

SoFi's crypto relaunch follows a 2023 service suspension due to regulatory constraints. The company will initially offer Bitcoin and ethereum trading, with plans to expand into advanced features that mirror offerings from established competitors.

The competitive landscape shows similar moves across major platforms to establish comprehensive crypto ecosystems as digital asset adoption accelerates among retail investors.

Robinhood recently launched crypto staking services for US customers, starting with Ethereum and Solana with a $1 minimum requirement, though it will introduce a 25% commission on staking rewards beginning October 2025. Robinhood also unveiled tokenized stocks and revealed plans for its own Layer 2 blockchain in June 2025.

Meanwhile, eToro announced plans to tokenize US-listed stocks as ERC20 tokens on Ethereum, extending its 24/5 trading capabilities to 100 popular securities.

Noto emphasized SoFi's competitive advantage in stablecoins, citing the company's existing banking license as providing faster market entry than competitors awaiting regulatory approval under the GENIUS Act.

"Because we're already a bank and because the [Office of the Comptroller of the Currency] put out an interpretive letter that allows and is permissible for stablecoins at banks to be launched, we can launch sooner than other people," Noto explained.

The CEO estimated it will take 12-18 months for regulatory bodies to establish comprehensive GENIUS Act rulemaking, potentially giving SoFi a significant head start in the stablecoin market.

Both Robinhood and eToro have been expanding their European presence following the implementation of MiCA regulations, with Robinhood launching crypto services in Spain in December 2024.