SoFi, a startup focused on refinancing student loans has decided to follow the ongoing trend of availing crypto trading services. The San Francisco-based startup announced the addition of Bitcoin, Ehereum, and Litecoin trading to its rapidly growing SoFi Invest platform.
Sofi’s Invest platform boasts of over 800,000 members and the addition of crypto trading facility makes it the first and only platform to offer automated and active investing for stocks, ETFs, and cryptocurrencies through a single application.
Anthony Noto the CEO of Sofi mentioned that the addition of crypto services to the SoFi Invest platform was purely based on the high-demands from the existing customers. He said,
“Feedback from our members has made it clear that a significant percentage are not only interested in learning more about cryptocurrencies but are also already buying and selling crypto. We’re very pleased to be adding this new product to SoFi Invest, as access, education, and keeping costs low for our members is at the heart of what we do.”
SoFi’s decision to add crypto trading options is not out of the blue as the CEO had mentioned, he had always been intrigued by the cryptocurrency and the underlying technology of blockchain. The decision also came on the heels of several other fintech firms embracing crypto including the likes of payment app like Square, and investment service providers such as Robinhood and eToro.