SoFi bank now letting people trade crypto ( good sign....)

[Rufsilf]

Just read from Reuters that SoFi, yep an actual U.S. bank, is now allowing their users to trade bitcoin, eth, solana and more right inside their banking app.

Kinda crazy to think about it, right? few years ago banks were so anti-crypto, now they’re the ones jumping in. they said regulators already cleared it, so maybe rules are finally getting clear in the US.

For me this looks good for adoption, more people will get access to crypto without going thru those sketchy exchanges. and it also means the big players are slowly accepting that crypto’s not going anywhere.

but at the same time, it also feels weird... like, this thing that was supposed to be “no banks needed” is now being offered by a bank.

what do you guys think, is it a good progress or another sign that the system’s trying to take over bitcoin again?

https://www.reuters.com/technology/sofi-rolls-out-crypto-trading-digital-asset-gold-rush-draws-lenders-2025-11-11/

The fintech said its customers will be able to buy, sell and hold dozens of cryptocurrencies, including bitcoin, ethereum, and solana, some of the world's biggest tokens by market value.
"SoFi is the first bank in the U.S. to offer crypto trading and investing," CEO Anthony Noto said.
"The product we're launching today is for retail members, but institutional access is right around the corner."

[retaur]

I guess that means they've decided they can't beat it anymore and have to get on board or cope with the consequences of not doing. I guess that's good.

I hope they know what they're doing though and the regulations are strict enough so people don't lose money/crypto in the process of trying to gain exposure to it.

[JiiBs]

https://www.reuters.com/technology/sofi-rolls-out-crypto-trading-digital-asset-gold-rush-draws-lenders-2025-11-11/

The fintech said its customers will be able to buy, sell and hold dozens of cryptocurrencies, including bitcoin, ethereum, and solana, some of the world's biggest tokens by market value.
"SoFi is the first bank in the U.S. to offer crypto trading and investing," CEO Anthony Noto said.
"The product we're launching today is for retail members, but institutional access is right around the corner."

It’s still a plan from what I’ve read and not fully launched yet, even then, it appears to be what would be done in phases with the first phase being for retailers which means, this is a testing phase where they would use this to come up with workable systems about limited amounts and expand into institutional holders that would go with higher volume for its investments.

It’s a huge step towards adoption and it highlights just what was the course of recourse to revolve about unclear regulations.

It’s a good one to say the least and I wouldn’t be surprise to find other banks taking in their steps.

[Rufsilf]

It’s still a plan from what I’ve read and not fully launched yet, even then, it appears to be what would be done in phases with the first phase being for retailers which means, this is a testing phase where they would use this to come up with workable systems about limited amounts and expand into institutional holders that would go with higher volume for its investments.

Yeah could be just a rollout announcement, like testing the waters first. If things go well then maybe they’ll push it full scale.
But I’m kinda optimistic about it, banks don’t usually make moves without studying things carefully. For sure they already have a solid plan and marketing strategy behind this one.

[Aanuoluwatofunmi]

There a goodnews to this adoption and also a careful warning to observe at the same time, first of all, the goodnews is that Bitcoin is becoming more acceptable by the financial institutions and they know permits for it uses, while on the other note, we should be careful in using them for this same purpose, because they've got all our details and could track us, except we remain decentralized.

[_act_]

https://www.reuters.com/technology/sofi-rolls-out-crypto-trading-digital-asset-gold-rush-draws-lenders-2025-11-11/

The fintech said its customers will be able to buy, sell and hold dozens of cryptocurrencies, including bitcoin, ethereum, and solana, some of the world's biggest tokens by market value.
"SoFi is the first bank in the U.S. to offer crypto trading and investing," CEO Anthony Noto said.
"The product we're launching today is for retail members, but institutional access is right around the corner."

The will allow their customers to buy dozens of cryptocurrencies? That is very bad.

It is a good news but only few coins like bitcoin should be allowed, they will only let their customers to be exposed to coins that are not store of value.

I support the idea but I do not support many coins to be included.

[minairia3]

what do you guys think, is it a good progress or another sign that the system’s trying to take over bitcoin again?

In terms of adoption, this is a good sign because it will make it easier for more people to access Bitcoin and crypto in general. But this goes against the philosophy of bitcoin and cryptocurrencies which is to reduce dependence on third parties like banks. However, there is one more thing we need to keep in mind, whether we like it or not, there is no way to stop them from intervening further in the market. This is an open market and is for everyone. So let's look on the bright side, don't think too much about things we can't do anything about.

[slaman29]

Not really different from using Revolut or Robinhood tho right? Which is even crazier as its an app even 16 yr olds could use with permissions.

And then when you realize you're not buying any BTC (can't withdraw), then you know its really nothing special. Like those 1xbit weird exchanges from 10 years ago

[GreatArkansas]

Not really different from using Revolut or Robinhood tho right? Which is even crazier as its an app even 16 yr olds could use with permissions.

And then when you realize you're not buying any BTC (can't withdraw), then you know its really nothing special. Like those 1xbit weird exchanges from 10 years ago

It says on their website, "you can buy, sell, hold". So maybe it's really an exchange within their platform? Not really sure.
This is really bullish for the cryptocurrency market. This will be more accessible to most people. I think other banks will follow after this will become succesful.

[DubemIfedigbo001]

Well.... I see some good news and bad news here.

The Good news is that it would be easier for people who has accounts with them to buy cryptocurrency since it would be converted for them directly from the app and since those coins vale are measured in dollar, they wouldn't worry about conversion rates.

The bad news is that it is still a win for centralization especially with bitcoin and some people would still want to hold these coins still in their banking app which still keeps their coins in the custody of the bank.

People can act smarter though by buying bitcoin from the app and sending it to their non-custodial wallet for full control and if they care about privacy and anonymity, they can use services like mixers, CoinJoin and others to further make the coins anonymous.

[Zlantann]

The will allow their customers to buy dozens of cryptocurrencies? That is very bad.

It is a good news but only few coins like bitcoin should be allowed, they will only let their customers to be exposed to coins that are not store of value.

I support the idea but I do not support many coins to be included.

The bank doesn't have the intention to promote Bitcoin. They want to make money from service charges, so they are offering customers more crypto options. The bank also has plans to roll out its own stablecoins in the future. Customers' demand for crypto services and clear regulatory laws in the US are driving banks and other financial institutions to offer crypto services.

The idea is not bad but people should learn to distinguish between Bitcoin and shitcoins. They should also know that they can actually buy and hold their coins without any middlemen.

[BALIK]

If we accept and are satisfied with the government legalizing bitcoin, issuing regulations, or support bitcoin ETFs. It's only a matter of time before banks enter the market, why should we worry about it? What is the difference between banks and  ETFs, and why should we support bitcoin ETFs but fear banks?
Besides, isn't this what we want? We want bitcoin to become globally popular, to become a mainstream asset and everything has its price. To achieve those things we also need to pay the price so I think this is a good step forward.

[MainIbem]

I guess that means they've decided they can't beat it anymore and have to get on board or cope with the consequences of not doing. I guess that's good.

I hope they know what they're doing though and the regulations are strict enough so people don't lose money/crypto in the process of trying to gain exposure to it.

With the way crypto is going it's clear that there would be more adaption as time flies, I'm not suprised of the new development of SoFi bank concerning letting people trade crypto cause the signs where there and with time more would follow suit cause they all can't beat but join it. Well people can risk trading shitcoins with banks just like they do in exchanges but I won't support trading of Bitcoin since it's a good store of value and supposed to be held for longer instead of trading it for quick profits.

[rat03gopoh]

It says on their website, "you can buy, sell, hold".

Next, they added internal transfer capabilities. Interestingly, they won't create the drama of "your withdrawals is waiting for approval".
It's like when I first read the announcement that PayPal could do the same thing, nothing special.

So maybe it's really an exchange within their platform? Not really sure.

More like a bank within a bank.

The question their customers should ask is whether this bank holds all the reserves of the listed coins, or if users are simply trading value from fictitious reserves. Considering the news said "dozens," that's more than the ETF market offers (afaik, the number of approved and active coins in the ETF market is less than 10 coins).

[Boiboi20]

If we accept and are satisfied with the government legalizing bitcoin, issuing regulations, or support bitcoin ETFs. It's only a matter of time before banks enter the market, why should we worry about it? What is the difference between banks and  ETFs, and why should we support bitcoin ETFs but fear banks?
Besides, isn't this what we want? We want bitcoin to become globally popular, to become a mainstream asset and everything has its price. To achieve those things we also need to pay the price so I think this is a good step forward.

If we’re okay with the government legalizing bitcoin setting up regulations and even supporting bitcoin ETFs then it is only a matter of time before banks step in too I don’t really see why we should worry about that what is the real difference between bank ETFs anyway if welcome one we should not fear the other this actually what we have been waiting all along for bitcoin to go global and become a mainstream asset of course everything comes with a price but I see this as a positive step forward.

[Iranus]

The bank doesn't have the intention to promote Bitcoin. They want to make money from service charges, so they are offering customers more crypto options. The bank also has plans to roll out its own stablecoins in the future. Customers' demand for crypto services and clear regulatory laws in the US are driving banks and other financial institutions to offer crypto services.

The idea is not bad but people should learn to distinguish between Bitcoin and shitcoins. They should also know that they can actually buy and hold their coins without any middlemen.

Banks are also businesses and centralized organizations, what more can we expect from them? For businesses, profits must come first because only then can they maintain their existence. Worshiping or promoting only one thing will not help them survive, and that may even apply to us as well. If bitcoin doesn't give us benefits like privacy, profit, will we promote and protect bitcoin?

For me, this is a good step forward in crypto adoption as well as the overall growth of the industry. In my opinion, focusing only on bitcoin and ignoring the rest of the industry will only slow down the crypto industry as a whole, and may also affect bitcoin as it is also a crypto.

[slaman29]

Not really different from using Revolut or Robinhood tho right? Which is even crazier as its an app even 16 yr olds could use with permissions.

And then when you realize you're not buying any BTC (can't withdraw), then you know its really nothing special. Like those 1xbit weird exchanges from 10 years ago

It says on their website, "you can buy, sell, hold". So maybe it's really an exchange within their platform? Not really sure.
This is really bullish for the cryptocurrency market. This will be more accessible to most people. I think other banks will follow after this will become succesful.

Yeah but buying, selling, holding can happen with anything, tokenized BTC or even just futures. But I'm saying this is not actual BTC. No wallets, no on-chain activity, everything on their platform. Just like Robinhood etc.

So lets say you want to 'hodl' on your own wallet? You can't withdraw anything. You only hodl on their platform. Maybe that works for most people but I always feel like that's just imaginary BTC.

[betswift]

Yeah but buying, selling, holding can happen with anything, tokenized BTC or even just futures. But I'm saying this is not actual BTC. No wallets, no on-chain activity, everything on their platform. Just like Robinhood etc.

So lets say you want to 'hodl' on your own wallet? You can't withdraw anything. You only hodl on their platform. Maybe that works for most people but I always feel like that's just imaginary BTC.

People choose for themselves, but I agree, it's about the principles that BTC promotes and which are denied if you put your coin back inside the bank (from which BTC in nature goes away,to have the most of the custody to yourself).

[Luzin]

It’s still a plan from what I’ve read and not fully launched yet, even then, it appears to be what would be done in phases with the first phase being for retailers which means, this is a testing phase where they would use this to come up with workable systems about limited amounts and expand into institutional holders that would go with higher volume for its investments.

From what I read, SoFi bank has been offering crypto trading since 2019. They trade Bitcoin, Ethereum, and Litecoin through a partnership with Coinbase. But in 2023, due to regulatory uncertainty during the bank charter transition, that service stopped. This time, they are gradually returning, starting from November 11, with a waitlist open for priority access through November 30, 2025. As a promotional offer, SoFi is also giving away 1 BTC to lucky participants according to the terms and conditions.

Source: https://finance.yahoo.com/news/sofi-bank-relaunches-crypto-trading-172214829.html?

[slaman29]

So lets say you want to 'hodl' on your own wallet? You can't withdraw anything. You only hodl on their platform. Maybe that works for most people but I always feel like that's just imaginary BTC.

People choose for themselves, but I agree, it's about the principles that BTC promotes and which are denied if you put your coin back inside the bank (from which BTC in nature goes away,to have the most of the custody to yourself).

Well, some people also say the nature of BTC is to use it as payment method for each other. But even the socalled Bitcoin maximalists are all hodling forever, and maybe they sell a big bunch at ATH and use that to spend on payments.

There is no nature to respect anymore I guess. I mean I do, but most people don't. So we shouldn't hold it against them