SoFi Technologies is returning to the crypto space and plans to launch blockchain-powered international remittances amid a positive shift in regulations.
By Godfrey Benjamin
Editor Yana Khlebnikova
Updated
3 mins read
Online banking platform SoFi Technologies has decided to return to the crypto space after a hiatus of up to two years. As part of its comeback, the firm is introducing “blockchain-powered international remittances.”
Very excited about the innovation we can drive via blockchain and crypto across our businesses. @Sofi ‘s planned new international payments (frequently called remittances) will convert fiat to crypto, transmit via blockchain, and convert to local fiat. It's only day 1 of the type… https://t.co/KIIyXMEHJo
— Anthony Noto (@anthonynoto) June 25, 2025
SoFi exited the crypto sector in November 2023 due to regulatory challenges, but has now chosen to reintroduce crypto trading and on-chain remittances. This marks a significant pivot for the American personal finance and fintech firm.
The goal is to make financial services faster, easier, safer, and lower cost for customers.
In April, the US firm hinted at the plan to reintroduce cryptocurrency services by the end of 2025. The regulatory scrutiny that it faced came during its pursuit of a U.S. bank charter.
However, new guidance from the Office of the Comptroller of the Currency (OCC) in March 2025 has eased the regulatory burden. The pro-crypto stance of President Donald Trump is enabling banks to engage more freely with cryptocurrency services.
As a result of the new development, users of the platform can buy, sell, and hold digital assets in their accounts.
Going forward, the firm plans to venture into stablecoin offerings and also add the ability for customers to borrow against their crypto holdings. This feature introduces new payment options, as well as staking features, according to a waitlist notice on its website. There is considerable excitement in the SoFi ecosystem, with Anthony Noto, the CEO of the platform, stating that innovation can drive SoFi to utilize blockchain and crypto across its businesses.
He also reiterated the plans of the firm, citing that “SoFi’s planned new international payments (frequently called remittances) will convert fiat to crypto, transmit via blockchain, and convert to local fiat.”
SoFi’s Galileo finance platform will also support third-party crypto infrastructure, including wallets and custody. This positions the American firm to compete in the evolving digital finance landscape, it added. It is worth noting that SoFi’s move comes at a time when many organizations are shifting their focus to crypto assets.
Specifically, the Trump administration has been encouraging many businesses, inspiring them to regain renewed hope in the crypto industry. He has introduced several initiatives that favor the sector. This includes the signing of an Executive Order to create a Strategic Bitcoin Reserve, several regulatory reforms, and the appointment of officials with pro-crypto stances.
One of these is the designation of a “crypto czar,” David Sacks, who is charged with overseeing and promoting the growth of the digital asset sector.
Regarding a strategic BTC reserve, several US states have made progress. Recently, Texas signed Senate Bill 21 into law.
This bill aims to establish a BTC $107 335 24h volatility: 0.2% Market cap: $2.13 T Vol. 24h: $23.14 B reserve that is managed independently of the central treasury. Additionally, the state plans to invest $10 million in Bitcoin for the reserve, marking a significant milestone in the US’s movement toward establishing a national strategic Bitcoin reserve.
So far, Arizona and New Hampshire are equally preparing for the big investment in the Bitcoin treasury.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
