Digital financial services company SoFi Technologies (Nasdaq: SOFI) announced on June 25 that it will introduce blockchain-powered global remittances and relaunch cryptocurrency investing later this year. The move marks SoFi’s return to the digital asset space after a regulatory-driven pause in 2023, signaling its full embrace of the crypto revolution.
Financial Services Face Total Crypto Overhaul
CEO Anthony Noto emphasized the transformational potential: “The future of financial services is being completely reinvented through innovations in crypto, digital assets, and blockchain more broadly.” He added that SoFi is accelerating efforts to give members more choice and control, and that crypto and blockchain innovations will be threaded through each business line — buying, paying, saving, investing, borrowing, and protecting.
SoFi reported record net revenue of $772 million and net income of $71 million for the first quarter of 2025. Membership grew 34% year-over-year to 10.9 million, and total assets reached $37.75 billion. These strong fundamentals provide a solid foundation for the crypto expansion.
Blockchain Remittances: Disrupting Cross-Border Payments
The new international remittance service will enable SoFi Money members to send funds globally via blockchain networks, converting US dollars into local currencies for near-instant deposits with full transparency on fees and exchange rates. In 2023, US outbound remittances exceeded $93 billion, with traditional channels often charging high fees and taking days to settle. SoFi’s blockchain-based solution aims to cut costs and increase speed dramatically.
“We’re building a future where people can seamlessly send money around the world and have the tools and education to safely use crypto and digital assets to get their money right,” SoFi stated.
Crypto Investing Returns: BTC and ETH First
Later this year, SoFi members will be able to buy, sell, and hold a selection of cryptocurrencies, starting with Bitcoin (BTC) and Ethereum (ETH). This relaunch follows the company’s exit from crypto services in 2023 amid regulatory uncertainty. Planned expansions include stablecoins, staking, crypto-backed lending, and blockchain infrastructure offerings via its technology arm, Galileo.
Regulatory Green Light: Bank-Grade Crypto Custody
SoFi Bank N.A. recently received federal clearance from the Office of the Comptroller of the Currency (OCC) to provide crypto custody and stablecoin reserve services. This positions SoFi uniquely at the intersection of regulated banking and emerging blockchain innovation, enabling it to participate in the digital asset economy within a compliant framework.
Industry observers note that SoFi’s comprehensive crypto push coincides with accelerating institutional adoption, potentially setting a new benchmark for the integration of traditional finance and decentralized technology.