SoFi Stock Surges as Bank Re-enters Crypto Trading After 2-Year Hiatus

Fintech giant SoFi just flipped the 'on' switch for crypto trading again—and Wall Street's already placing bets. Here's why the comeback matters.

Subheader: The Backstory You Need

Two years ago, SoFi nuked its crypto desk amid regulatory pressure. Now they're back—with zero fanfare but plenty of trading volume. Classic 'ask forgiveness, not permission' banking logic.

Subheader: What Changed?

Regulators blinked. The SEC's losing streak in court (looking at you, Ripple case) made crypto enforcement look like a losing game. SoFi's move? A calculated bet that the compliance tide is turning.

Subheader: Market Impact

SOFI stock popped 8% on the news—because nothing excites investors like a fintech playing regulatory arbitrage. Meanwhile, Bitcoin barely budged. Priorities.

Closing Thought: In finance, 'strategic retreats' always end when someone smells fees. Welcome to the 17th crypto renaissance—or as traders call it, 'Thursday.'

TLDR

• SoFi Technologies launched crypto trading services for customers on Monday, becoming the first nationally chartered consumer bank to offer this service.
• The rollout includes dozens of cryptocurrencies like Bitcoin and Ethereum, with phased access for customers over the coming weeks.
• SoFi plans to launch its own stablecoin called SoFi USD by 2026, backed dollar-for-dollar by reserves.
• CEO Anthony Noto said 60% of surveyed members expressed interest in crypto investments and he personally allocates 3% of his portfolio to crypto.
• The company raised its full-year financial guidance in October after beating third-quarter earnings expectations with $950 million in adjusted net revenue.

SoFi Technologies rolled out crypto trading services to customers starting Monday. The phased launch marks the bank’s return to digital currency trading after a two-year hiatus.

SoFi Technologies, Inc., SOFI

The platform will offer dozens of cryptocurrencies including Bitcoin and Ethereum. More customers will gain access in the coming weeks as the rollout continues.

JUST IN: 🇺🇸 SoFi became the first national chartered bank to allow #Bitcoin and crypto trading. pic.twitter.com/NRt3xZLHO6

— bitcoin Magazine (@BitcoinMagazine) November 11, 2025

CEO Anthony Noto announced the bank is the first nationally chartered consumer bank to launch crypto trading. The MOVE followed regulatory changes from the Office of the Comptroller of the Currency in March.

“One of the holes we’ve had for the last two years was in cryptocurrency, the ability to buy, sell, and hold crypto,” Noto told CNBC’s Squawk Box. “We were not allowed to do that as a bank.”

SoFi had suspended crypto services in 2023 as a condition of obtaining its national bank charter. The stricter regulatory environment at the time forced the company to pause its crypto operations that began in 2019.

The bank re-entered the crypto space in June with international payment options. Those services allowed conversions from fiat to crypto and transmission via blockchain.

Stablecoin Launch Planned

SoFi plans to introduce SoFi USD by 2026. The stablecoin will be backed dollar-for-dollar by reserves.

Noto expressed concerns about stablecoins from non-bank operators. He questioned where reserves sit and whether they carry credit or duration risk.

“Just because it’s back dollar for dollar doesn’t mean those dollars will be there when you try to liquidate,” he said. The CEO emphasized three elements: bankruptcy remote status, duration risk, and credit risk.

The company views blockchain and cryptocurrencies as a “super cycle technology” similar to AI. Noto said he expects the technology to spread across the financial system.

Member Interest Drives Decision

SoFi surveyed its member base about crypto investments. Sixty percent expressed interest in adding digital currencies to their portfolios.

The bank has 12.6 million members and $41 billion in assets according to Business Quant. Third-quarter net revenue reached $962 million.

Noto revealed he personally allocates 3% of his portfolio to crypto, primarily Bitcoin. He compared the investment to buying a piece of the World Wide Web in 1990.

“We have exposure to it because I believe we’re investing in a technology not in a currency,” Noto said. He described cryptocurrencies as communication networks used for payments and other applications.

SoFi raised its full-year financial guidance for the second time this year on October 28. Third-quarter adjusted earnings hit 11 cents per share, beating analyst expectations of 8 cents.

Adjusted net revenue of $950 million topped forecasts of $889 million. The fintech also plans to integrate crypto into its lending and infrastructure services for borrowing and faster payments.

In August, SoFi partnered with privately held Lightspark to launch a blockchain-powered remittances service. The stablecoin will be available for retail purchase and used for B2B payments on the platform.

Shares slipped 0.1% following Tuesday’s announcement. Fintech peers Affirm Holdings and Block declined 2% and 1.4% respectively.