SoFi Technologies (Nasdaq: SOFI) announced on Thursday the launch of SoFi Big Business Banking, a regulated enterprise banking platform that allows companies to hold deposits, move money, and settle transactions in both fiat currency and digital assets—including the SoFiUSD stablecoin and select cryptocurrencies—around the clock from a single nationally chartered bank.
Breaking the Legacy Banking Hours
CEO Anthony Noto framed the product as a direct challenge to traditional banks that operate from 9 a.m. to 5 p.m., Monday to Friday. “To be competitive, businesses today must operate in a global, always-on environment 24 hours a day, 7 days a week,” Noto said. SoFi Big Business Banking combines the regulatory foundation of a national bank charter with the speed, scale, and flexibility companies need for real-time money and digital asset management. The platform runs on SoFi Bank, N.A., which holds a national bank charter and maintains direct Federal Reserve access, differentiating it from fintech workarounds that rely on partner banks or offshore infrastructure.
From Retail Crypto to Enterprise Solutions
SoFi’s crypto journey began in November 2025 when it became the first FDIC-insured national bank to offer retail crypto trading, allowing consumers to buy, sell, and hold bitcoin, ether, solana, and other digital assets. In December 2025, SoFi Bank issued SoFiUSD, a fully reserved dollar stablecoin running on a public, permissionless blockchain. Big Business Banking ties these pieces together for the enterprise market. Clients can hold U.S. dollar deposits, move funds in fiat or SoFiUSD, and settle in select cryptocurrencies. Transfers are executed through an API-driven system operating 24/7/365, removing settlement delays imposed by standard banking hours.
Mint-and-Burn Mechanism and Solana Integration
At the core of the digital asset layer is a mint-and-burn mechanism that enables enterprises to convert instantly between fiat and SoFiUSD while keeping reserves within SoFi’s regulated bank environment. The platform is expected to leverage Solana among its blockchain settlement networks, alongside others. By consolidating traditional banking and digital asset activities into one interface, enterprises no longer need to juggle separate custodians, payment rails, and crypto service providers.
Ten Initial Participants
Ten firms are participating in the initial institutional rollout, supporting the SoFiUSD launch and building on SoFi’s regulated infrastructure: Cumberland, Bullish, BitGo, B2C2, Fireblocks, Wintermute, Galaxy, Jupiter, Mesh Payments, and Mastercard. These partners span market makers, custodians, wallets, and payment networks. SoFi’s Galileo technology platform powers the API-driven capabilities, currently supporting over 128 million accounts globally across fintechs and financial institutions, providing scalability for Big Business Banking.
Deepening Stablecoin Settlement with Mastercard
Earlier in March 2026, SoFi Technologies and Mastercard announced a partnership to enable settlement using SoFiUSD across Mastercard’s global payments network, further expanding the stablecoin’s utility. SoFi Big Business Banking is currently focused on enterprise and institutional clients; broader availability for smaller businesses has not been announced. SoFi reported 13.7 million members as of launch. The product represents the clearest move yet into regulated crypto banking infrastructure for institutions since the collapse of Silvergate and Signature in 2023, offering a compliant alternative in a market that had largely relied on informal arrangements between crypto-native firms and smaller banks.