$SOFW.TA https://t.co/94QNPGQ2EF
After dropping crypto in 2023, @SoFi is getting back in the game with Bitcoin and Ethereum trading, stablecoins, lending, and beyond. https://t.co/kwNMMzkpG2
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SoFi Technologies said Wednesday it will re-enter cryptocurrency trading later this year and launch a blockchain-based global remittance service, restoring products it shelved in 2023 amid regulatory uncertainty. The San Francisco-based fintech will let members buy, sell and hold Bitcoin and Ethereum at first, with plans to add stablecoins and other assets. The company also intends to offer self-service international money transfers that settle on blockchain rails, promising lower costs, faster settlement and real-time visibility on foreign-exchange rates and fees. Future features include allowing customers to borrow against crypto holdings and other blockchain-driven services. Chief Executive Officer Anthony Noto said crypto and blockchain "can and will be threaded through each of our businesses," positioning SoFi as a one-stop digital finance platform. The rollout follows a May interpretive letter from the Office of the Comptroller of the Currency that lets nationally chartered banks custody digital assets, and comes amid broader regulatory easing under the Trump administration. Shares of SoFi rose 0.7% to $15.96 in afternoon New York trading, trimming year-to-date gains to about 13%. Technical traders are watching the $16 level as a potential breakout point.