SoFi Bank Launches Consumer Bitcoin and Crypto Trading
SoFi began rolling out cryptocurrency trading, including Bitcoin, directly inside its banking platform. The company described itself as the first nationally chartered U.S. bank to offer consumer crypto trading.
On November 11, SoFi Bank began a phased rollout allowing customers to buy, sell and hold Bitcoin and other supported crypto assets through the same platform used for its banking and financial products. SoFi described the service as the first consumer crypto-trading offering launched by a nationally chartered U.S. bank.
The development was important because regulated banks had historically approached direct crypto activity cautiously, often leaving Bitcoin access to exchanges, brokerages or ETF products. SoFi’s launch brought direct asset trading into a mainstream banking relationship rather than requiring customers to leave the bank’s ecosystem.
The bank’s insured status did not mean Bitcoin balances received FDIC insurance; the significance was institutional access, not a government guarantee on the asset. The launch nevertheless marked a new stage in the convergence of U.S. banking and Bitcoin services, with a national bank placing direct consumer Bitcoin trading alongside conventional financial products.