SoFi Technologies, Inc. (NASDAQ: SOFI) has launched SoFi Crypto, making it the first U.S. bank to offer cryptocurrency trading for retail customers. The platform allows buying, selling, and holding digital assets within the same app used for banking and investing. SoFi emphasized its bank-grade security and regulatory oversight.

Members can buy crypto instantly using funds from their SoFi accounts, with FDIC insurance. The platform includes educational resources for new investors. SoFi Crypto is expected to offer trading for dozens of cryptocurrencies, with more access in the future. Members can now join the waitlist for early access and promotional rewards.

SoFi aims to expand its blockchain initiatives beyond trading to include stablecoins, remittances, lending, and infrastructure services. The company seeks to leverage digital assets to reduce transaction costs and accelerate payments across its ecosystem. The launch aligns with rising U.S. consumer interest in digital assets, with 60% of SoFi members preferring to trade through a licensed bank.

The crypto market has seen a slight decline in the last 24 hours, with a total market cap of $3.49 trillion. Bitcoin (BTC) is down 1.41% at $103,548.79, while Ethereum (ETH) is down 0.86% at $3,493.90. Solana (SOL) has fallen 3% to $160.77 but is up 1.32% within a week. Solana Breakpoint conference in Abu Dhabi will gather Solana network builders and investors to explore key strategic concerns.

Read more at Yahoo Finance: SoFi becomes first U.S. national bank to offer crypto trading