SoFi CEO Announces Crypto Comeback: ’Blockchain Will Infect Every Product’

Wall Street’s favorite fintech flip-flopper is back on the crypto train—this time with blockchain ambitions stretching beyond trading. SoFi CEO Anthony Noto vows to weave distributed ledger tech into loans, payments, and even those student debt traps they peddle.

Because nothing says ’financial revolution’ like adding buzzwords to existing products while charging 15% APR.

Crypto-backed lending

On the lending side, Noto discussed the possibility of offering crypto-backed loans. 

“If we custody the cryptocurrency, we can provide a secure loan against that currency, again, a lower cost of lending for our members, just like margin loans are,” he said, comparing it to traditional margin loans already offered within SoFi’s invest business.

While SoFi continues to scale its traditional loan origination and fee-based lending platform, the company appears to be setting the foundation for crypto to serve as both a new asset class and a technology layer. 

Noto called blockchain “a technology more than anything else,” underscoring its potential to power financial services behind the scenes.

SoFi’s crypto ambitions come as the company reports strong financial performance to start 2025, with revenue up 33% year-over-year and EBITDA up 46%. 

The fintech firm added 800,000 new members in the quarter, bringing total membership growth to 34% year-over-year. Engagement in the SoFi Invest platform also hit record highs.