SoFi is expanding its digital financial services with new crypto-powered capabilities, including self-serve international money transfers and crypto investing, both expected to launch later in 2025. The international money transfers will allow eligible SoFi Money members to seamlessly and securely transfer money to people in dozens of countries, leveraging secure blockchain networks for faster speeds and lower costs.
Funds will be automatically transmitted, converted into local currency, and rapidly deposited into the recipient’s account, with full transparency on exchange rates and fees upfront. SoFi members will also be able to buy, sell, and hold a selection of cryptocurrencies like Bitcoin and Ethereum, with plans to offer stablecoins and other services such as borrowing against crypto assets and expanding payment options.
CEO Anthony Noto stated that crypto and blockchain innovations will be threaded through each of SoFi's businesses and capabilities, positioning the company to bridge traditional financial systems and emerging technology. This move is supported by recent interpretive letters from the Office of the Comptroller of the Currency, making it permissible for nationally chartered banks to provide crypto custody and execution services.
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