SoFi Technologies (SOFI), a U.S.-based fintech company, has revealed plans to re-enter the cryptocurrency space by launching international remittance services powered by blockchain and stablecoins later this year. This new service will enable users to send U.S. dollars and select stablecoins to recipients worldwide, leveraging "well-known" blockchain networks for fast, 24/7 transactions that convert funds into local currencies and deposit them promptly.
SoFi claims this blockchain-based remittance system will be considerably cheaper and quicker than traditional wire transfers or bank remittances. Alongside remittances, the company will bring back cryptocurrency trading, allowing customers to buy, sell, and hold popular coins such as Bitcoin (BTC) and Ethereum (ETH). Future offerings may include staking, crypto-backed loans, and providing blockchain infrastructure through SoFi’s Galileo platform.
This strategic return follows a pause in crypto-related services initiated in 2023, when SoFi sought a banking license amid a stringent regulatory environment under the previous U.S. administration. The recent guidance from the Office of the Comptroller of the Currency, which permits nationally chartered banks to offer crypto custody and stablecoin services, has encouraged SoFi to revive its crypto engagement.
CEO Anthony Noto emphasized the firm's commitment to reinventing financial services by integrating innovations in crypto and blockchain technology across their offerings, empowering members with greater investment and payment choices globally.
SoFi’s move marks a significant endorsement of blockchain remittances and traditional crypto assets and signals a re-acceleration of fintech integration with decentralized technologies. As SoFi shares have already shown positive performance in 2025, the announced initiatives could further enhance the firm’s growth in digital finance.