SoFi Launches FDIC-Insured Crypto Trading for BTC, ETH, SOL
SoFi Technologies has launched SoFi Crypto, becoming the first FDIC-insured US bank to offer crypto trading services. Members can trade Bitcoin, Ethereum and Solana directly using funds in their SoFi Money accounts. Trades execute instantly with no transfers to external exchanges. The platform integrates institutional-grade security, U.S. banking oversight and FDIC insurance for fiat balances. SoFi Crypto also includes educational tools, tutorials and market insights to guide new investors. CEO Anthony Noto said blockchain will transform finance and outlined plans for a USD stablecoin, blockchain remittances and crypto-based lending. A SoFi survey shows 60% of crypto holders prefer trading via a licensed bank. Separately, Solana (SOL) trades near a key support zone at $155–$158, testing a rebound above $161 for upside or a drop below $151 for further declines.
Bullish
This development is bullish for the market as it lowers barriers to crypto access by integrating trading into an FDIC-insured banking platform. By offering Bitcoin, Ethereum and Solana trading directly within SoFi Money accounts, SoFi Crypto can attract retail investors seeking regulated environments. Historical precedents—such as PayPal’s crypto rollout—show that established financial institutions drive increased trading volumes and investor confidence. In the short term, the move may prompt inflows into supported assets, while over the long term it bolsters broader adoption and institutional acceptance of digital assets.