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SoFi Technologies has launched SoFi Big Business Banking, an institutional platform that allows enterprise clients to manage fiat deposits and crypto transactions in a single FDIC-insured account — about 2.5 years after pausing crypto services to secure its national bank charter.
The San Francisco-based fintech announced the service on 2 Apr. Initial clients include major market makers such as Cumberland, Wintermute and Galaxy, custody providers like BitGo and Fireblocks, and payments giant Mastercard, according to a company statement.
SoFi said the platform will support Solana as a primary blockchain alongside other networks and enable real-time settlement. The company previously offered crypto trading via a Coinbase partnership before winding down the service in late 2023 as a condition of obtaining its national bank charter.
SoFi relaunched consumer crypto services in November 2025 and has since rolled out additional blockchain features, including its own stablecoin with settlement options across Mastercard’s global payments network.
The company, which has 13.7mn members and $50bn in total assets, is positioning the blockchain as a long-term strategic priority. It plans to expand the new service to include crypto-backed lending, institutional trading and custody. No revenue, deposit targets or volume projections were disclosed.
"Since March, when the Office of the Comptroller of the Currency made crypto permissible for national banks, we’ve moved with urgency to bring new products to our members," CEO Anthony Noto said on the company’s Q4 2025 earnings call.
Broader industry shift
SoFi’s move reflects growing convergence between traditional banking and crypto infrastructure. JPMorgan Chase processes over $2bn daily through its Kinexys blockchain platform, while several large US banks including Citi, Wells Fargo and PNC are exploring joint stablecoin initiatives.
Crypto-native firms are also moving toward regulated banking charters. In December 2025 the OCC granted conditional approval for national trust bank charters to Circle’s First National Digital Currency Bank and Ripple National Trust Bank, while converting state charters for Paxos Trust, BitGo and Fidelity Digital Assets.
Clients of SoFi’s new institutional platform benefit from FDIC insurance up to $250,000 per depositor on fiat balances.