SoFi Launches Big Business Banking to Power Fiat and Crypto Banking on a Single Regulated Platform

SoFi Technologies, Inc. , the one-stop shop for digital financial services, announced the launch of SoFi Big Business Banking, a new offering that gives enterprise partners the ability to manage both fiat and crypto banking from a single, nationally chartered bank.

Read More on Fintech : Global Fintech Interview with Baran Ozkan, co-founder & CEO of Flagright

This launch builds on SoFi’s integration of blockchain into its core platform. Over the last year, SoFi has enabled members to buy, sell and hold crypto, launched SoFiUSD, and built the regulated infrastructure connecting traditional and on-chain finance. Big Business Banking brings it all together, enabling any company operating across both traditional and digital finance to hold deposits, move money and settle transactions 24/7 within SoFi’s regulated banking platform.

“To be competitive businesses today must operate in a global, always-on environment 24 hours a day, 7 days a week, while legacy banks typically still operate 9 to 5, Monday to Friday,” said Anthony Noto, CEO of SoFi. “SoFi Big Business Banking is changing that by combining the strength and regulatory foundation of a nationally chartered bank with the speed, scale, and flexibility companies need to move and manage money or digital assets in real time.”

Introducing SoFi Big Business Banking

SoFi Big Business Banking combines the strength of a nationally chartered bank and direct access to the Federal Reserve with modern, API-driven capabilities. The result is a simpler, faster way for companies to make payments, access liquidity, and operate in real time at scale.

Key capabilities of SoFi Big Business Banking will include:

• Regulated Business Deposit Accounts: High-capacity accounts that allow companies to hold funds directly within SoFi’s regulated bank, providing transparency and institutional-grade safeguards.
• Real-Time, API-Driven Payments: 24/7/365 money movement and settlement, including payments in fiat or SoFiUSD or selected crypto currencies, enabling businesses to operate at the speed of global markets without the limitations of traditional banking hours.
• Digital Asset Enablement: Foundational support for the “mint and burn” of SoFiUSD, allowing for the instant conversion between fiat and digital assets while maintaining reserves within SoFi’s regulated environment.
• Unified Financial Operations: A single, integrated interface for managing both traditional banking and digital asset activity, reducing complexity and reliance on multiple intermediaries.

SoFi gives businesses one regulated partner to hold funds, move money or crypto coins, and operate in real time, instead of having to rely on multiple providers of fiat and crypto currencies. As companies increasingly operate across both fiat and digital assets, SoFi is built to support those needs at scale.

The launch of SoFi’s Big Business Banking is supported by a foundational ecosystem of industry-leading firms who are leveraging the platform and supporting the institutional launch of SoFiUSD. Participants will be able to utilize SoFi’s regulated infrastructure to build the next generation of scalable financial services. Initial firms will include Cumberland, Bullish, BitGo, B2C2, Fireblocks, Wintermute, Galaxy, Jupiter, Mesh Payments and Mastercard. The platform is expected to leverage Solana, alongside other blockchain networks.

Catch more Fintech Insights : Real-Time Payments and the Redefinition Of Global Liquidity

[To share your insights with us, please write to [email protected] ]