SoFi Returns To Crypto Trading With Blockchain Remittances
SoFi Technologies is reentering the cryptocurrency market after previously exiting due to regulatory challenges. The firm announced the introduction of crypto trading and blockchain-powered international remittances. Customers will be able to buy, sell, and hold crypto assets, with plans to expand into stablecoin offerings and allow borrowing against crypto. CEO Anthony Noto expressed enthusiasm for innovations using blockchain and crypto to enhance financial services. The fintech blockchain industry is projected to grow significantly, from $3.4 billion in 2024 to $49 billion by 2030. SoFi's Galileo finance platform will support third-party crypto infrastructure. The company had exited the crypto space in 2023 as a condition for receiving a bank charter but is now capitalizing on eased regulations. SoFi's stock has increased by approximately 12% over the past week.
