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SoFi plans to relaunch encryption services by the end of 2025.
SoFi plans to relaunch its encryption services by the end of 2025 after the company paused its related business in 2023 due to applying for a U.S. banking license. CEO Anthony Noto stated that the new regulatory guidelines issued by the Office of the Comptroller of the Currency (OCC) in March promise to drop the regulatory burden on banks involved in the encryption field, prompting SoFi to decide to re-enter the market. The company will integrate Blockchain features into its major products over the next 24 months, including encryption investment, payments, and lending based on encryption assets. (CoinDesk)