SoFi Signals Crypto Comeback Amid Q1 Revenue Growth
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After a brief retreat, SoFi is laying the groundwork for a return to digital assets. The move reflects a broader recalibration among U.S. banks, as regulatory conditions shift and doors reopen for renewed engagement with crypto markets.
Anthony Noto, SoFi’s CEO, said the company intends to restore crypto investing by year-end, following updated guidance from the Office of the Comptroller of the Currency. The announcement comes less than a year after SoFi was required to halt crypto services to finalize its bank charter.
In an interview with CNBC, Noto described the change as a “fundamental shift” in the regulatory climate. “We’re going to re-enter the crypto business, which we had to exit,” he said, outlining plans to embed blockchain functionality across SoFi’s product suite.
SoFi had previously allowed members to trade +20 cryptocurrencies, until regulatory conditions forced customers to transition to Blockchain.com or liquidate their holdings. Now, the bank says it will make a “more comprehensive push,” extending beyond trading into lending, payments, and savings.
Recent signals from major institutions as Bank of America, Morgan Stanley, and crypto-native firms applying for banking licenses suggest the line between traditional finance and Web3 continues to blur.
This announcement coincides with SoFi’s Q1 2025 results, which showed a 20% year-over-year increase in net revenue to $771.8 million. The growth was largely fueled by a 67% rise in fee-based income and a 101% gain in the Financial Services segment.
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