SoFi Makes History as First U.S. Bank to Roll Out Crypto Trading—Wall Street Scrambles to Catch Up

Fintech disruptor SoFi just bulldozed another banking barrier—launching crypto trading while legacy institutions still debate 'blockchain potential.'

The move makes them the first FDIC-insured U.S. bank to let customers trade digital assets alongside traditional investments. No more shuffling funds to sketchy offshore exchanges—mainstream finance finally meets crypto.

Why This Matters

Banks have spent years warning about crypto's risks while quietly building their own blockchain teams. SoFi's play exposes the hypocrisy—and forces competitors to accelerate roadmaps or risk losing clients.

What's Next?

Expect 'me-too' announcements from rivals within quarters. Also predictable: sudden concern from regulators who've ignored crypto for a decade. (Funny how scrutiny appears when banks can't monopolize a market.)

Bottom line: The dam broke. Whether this floods finance with innovation or just more banker bonuses remains to be seen.

Regulatory clarity unlocks crypto for U.S. banks

For years, U.S. banks avoided crypto due to legal uncertainty. This changed after the Office of the Comptroller of the Currency (OCC) issued guidance in early 2025 explicitly permitting licensed banks to offer crypto services. 

Noto said the decision gave SoFi “the best license a company can have to offer crypto and blockchain services.”

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The fintech firm plans to integrate crypto into its broader banking ecosystem, allowing users to fund trades directly from SoFi checking or savings accounts, both FDIC-insured up to $2 million. Funds not deployed into crypto will continue earning interest, a key differentiator from traditional exchanges like Coinbase or Robinhood.

SoFi also confirmed plans to issue a U.S. dollar–pegged stablecoin and expand crypto features into its lending and infrastructure businesses. The MOVE is expected to integrate blockchain capabilities into existing banking infrastructure, opening the door to future services like digital credit and on-chain payment networks.

Banks join the tokenization wave

SoFi’s move comes as banks race to capture a share of the growing digital asset market. Citi recently announced plans to launch institutional crypto custody by 2026, while Franklin Templeton and BlackRock are expanding into tokenized treasuries. 

The total value of tokenized U.S. debt instruments now exceeds $8.7 billion, highlighting surging institutional interest in blockchain finance. This trend, fueled by regulatory clarity and demand for yield-bearing digital assets, is transforming how money moves across borders. 

By integrating crypto trading into its Core banking stack, SoFi’s entry reflects a broader shift as stablecoins, tokenized assets, and on-chain payments move from speculation to becoming part of mainstream financial infrastructure.

Also read: U.S. Treasury and IRS Issue Guidance for Staking in Crypto ETPs