SoFi Bank Relaunches Crypto Trading as First FDIC-Insured US Bank

Core Insights - SoFi Bank has relaunched crypto trading, becoming the first and only nationally chartered, FDIC-insured US bank to integrate banking, borrowing, investing, and crypto trading in a single application [1] - The bank supports Bitcoin, Ethereum, and Solana, with additional cryptocurrencies available, and the phased rollout began on November 11, 2023, with a waitlist open until November 30, 2025 [1][2] - SoFi is incentivizing early adopters with a chance to win one Bitcoin for users who join the waitlist and complete specific trading activities by January 31, 2026 [2] - The relaunch follows a surge in decentralized finance (DeFi) interest post-election, with 60% of SoFi members preferring licensed banks for crypto transactions [4] - Crypto ownership among SoFi members doubled in 2025, indicating a growing interest in digital assets [4] - Traditional financial institutions are increasingly integrating crypto services, with notable examples including JPMorgan and Goldman Sachs [5] Company Specifics - SoFi originally launched crypto trading on September 25, 2019, but services were suspended on December 19, 2023, due to regulatory uncertainties during the bank's charter transition [3] - SoFi's crypto services are regulated by the Office of the Comptroller of the Currency, distinguishing it from other banks that offer crypto custody or payment services without integrated trading [6]