SoFi Deepens Blockchain Efforts With Business Banking Offering

The new offering is designed to let businesses manage fiat and cryptocurrency banking from a “single, nationally chartered bank,” the financial services company said in a new release provided to PYMNTS Thursday (April 2).

The company says the launch builds on SoFi’s ongoing integration of blockchain. In the past year, it has begun allowing members to buy, sell and hold crypto, launched its own stablecoin and built the infrastructure to merge traditional and on-chain finance.

Big Business Banking, the company said, combines all of these efforts, letting any company operating across both traditional and digital finance to hold deposits, move funds and settle transactions around the block on SoFi’s 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, SoFi’s chief executive.

“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.”

During an earnings call in January, SoFi traced crypto’s evolution from “experiment to operating segment” within the company, as PYMNTS wrote.

After regulators clarified that national banks could support crypto activity, SoFi launched international payments via SoFi Pay, resumed consumer crypto trading and launched SoFiUSD.

Noto said the company became “the first national bank to issue a stablecoin on a public permissionless blockchain,” adding that SoFi USD is backed one-for-one with cash held in its Federal Reserve master account.

He described the initiative as placing SoFi “at the center of the crypto ecosystem,” with the goal of extending those services to institutional trading, correspondent payments and settlement.

Meanwhile, recent PYMNTS Intelligence research shows that businesses — especially small and medium-sized businesses (SMBs) — are increasingly turning to digital payment methods.

“Ready for Change: Why Nearly Half of SMBs Want to Ditch Cash and Checks,” a collaboration between PYMNTS Intelligence and Mastercard, shows that “legacy” payment habits often reflect workflow realities instead of a refusal to adopt digital tools.

“In other words, there is real room for progress because the barriers are solvable,” PYMNTS wrote. “When payment providers design around how SMBs actually operate—approvals, invoicing rhythms, liquidity needs, and risk concerns—adoption can accelerate in a way that feels like an upgrade, not a disruption.”