SoFi plans to restart encryption services by the end of 2025

According to CoinDesk, fintech company SoFi announced that it will restart its cryptocurrency services and plans to restore customer cryptocurrency asset investment functionality by the end of this year. CEO Anthony Noto stated in a CNBC interview that this return will be more strategic than before the service suspension in 2023, and plans to integrate blockchain technology into all of its major products in the next 24 months. In 2023, SoFi voluntarily suspended trading services for over 20 tokens in order to obtain a US banking license. Noto stated that the new regulations issued by the Office of the Superintendent of the Currency (OCC) in March this year reduced the compliance burden on banks participating in cryptocurrency business, creating conditions for a restart. In addition to trading, SoFi may also launch encrypted payment and encrypted asset lending services.