Digital banking platform SoFi Technologies has launched Big Business Banking, a platform that allows companies to manage fiat and crypto transactions within a single regulated system. The offering lets firms hold deposits, move funds and settle transactions around the clock using traditional currencies or digital assets, consolidating functions that have typically been split across banks, custodians and crypto service providers.
The platform also supports issuing and redeeming SoFiUSD, the company’s fully reserved dollar-backed stablecoin, enabling businesses to convert between fiat and on-chain assets while keeping reserves within a regulated banking environment. Early participants include Cumberland, BitGo, Bullish, B2C2, Fireblocks, Wintermute, Jupiter, Galaxy, Mesh Payments and Mastercard. SoFi said the system is expected to connect with blockchain networks, including Solana, to support on-chain settlement.
The move comes as SoFi pushes deeper into digital assets. In June the firm resumed crypto trading — enabling users to buy, sell and hold digital assets — and expanded blockchain-based remittance services to more than 30 countries. In December it launched SoFiUSD through its banking subsidiary; the stablecoin is redeemable on demand and was initially deployed on Ethereum.
Crypto-native firms are building similar infrastructure to integrate digital assets into institutional systems. In March, BitGo launched a financing platform that enables institutions to borrow and lend against liquid, staked and locked assets within a single custody account. In January, Fireblocks acquired crypto accounting platform TRES for $130 million, adding tax and compliance capabilities to meet institutions’ demand for audit-ready reporting.
This week, Ripple added digital-asset capabilities to its treasury platform, enabling companies to manage crypto and fiat balances in one system. Beyond expanding institutional services, several platforms are pursuing U.S. banking charters: EDX Markets applied to the Office of the Comptroller of the Currency to establish a national trust bank, EDX Trust, aiming to separate custody and settlement from trading; Zerohash applied for a national trust bank charter to expand stablecoin and custody services. Other applicants seeking regulatory approval to offer integrated crypto financial services include Coinbase, Laser Digital and Payoneer.
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