Social Finance, Inc.

With OCC’s license, it will be easier for SoFi to become a national bank. However, the company still has to wait for formal approval from the Federal Deposit Insurance Corporation and the Federal Reserve.

Fintech giant app Paypal has partnered with Paxos to launch a new crypto service. This new venture will serve more than 300 million PayPal users. 

FinTech startup SoFi that is popular for offering online student loan refinancing facilities says that acquiring the national banking charter will help it expand in other financial services areas and streamline its regulatory operations.