SoFi Launches In-App Crypto Trading, Elevates BEST Wallet Token
SoFi Bank has become the first nationally chartered U.S. bank to offer in-app crypto trading, enabling its 12.6 million customers to buy, sell and hold digital assets like Bitcoin and Ethereum within a single FDIC-insured app. This crypto trading rollout, driven by clearer U.S. banking guidance, lowers on-ramp barriers, deepens liquidity and compresses spreads for traders. Support for dozens of additional assets is coming online in stages, broadening retail adoption and normalizing digital-asset allocation.
Non-custodial wallets stand to benefit from this shift. Best Wallet, a mobile-first multi-chain wallet secured by MPC, has raised over $16.9 million in its BEST token presale. BEST holders gain fee discounts, early presale access and 77% APY staking inside the app. As banks become crypto on-ramps, tokens that bridge custody and on-chain utility are poised for higher demand.
By integrating crypto trading into mainstream banking, SoFi sets a precedent for other lenders to follow. Traders should watch liquidity, spreads and wallet-native token flows as more institutions enable seamless on-chain access.
Bullish
SoFi’s in-app crypto trading launch is bullish for the market because it marks the first time a major U.S. bank directly integrates digital-asset purchases and custody into retail banking. This move is similar to PayPal’s 2020 crypto rollout, which drove trading volumes higher, tightened spreads and sparked sustained retail interest. In the short term, expect increased liquidity, narrower bid-ask spreads and elevated trading volumes as new users enter the market. Over the long term, mainstream banking on-ramps will normalize crypto allocation, encourage competing bank integrations and funnel more assets into non-custodial wallets and DeFi channels. The heightened demand for wallet-native tokens like BEST further underscores the bullish outlook.