SoFi Technologies has introduced Big Business Banking, a regulated institutional platform that combines traditional fiat rails and crypto capabilities in one system. The offering lets companies hold deposits, transfer funds and settle transactions 24/7 using either fiat currencies or digital assets, consolidating services that are often split among banks, custodians and crypto providers.
A key feature is support for SoFiUSD, the company’s fully reserved, dollar-backed stablecoin. Businesses can issue and redeem SoFiUSD through the platform, enabling on‑ and off‑chain conversion while keeping reserves inside a regulated banking environment. SoFi said early participants include Cumberland, BitGo, Bullish, B2C2, Fireblocks, Wintermute, Jupiter, Galaxy, Mesh Payments and Mastercard. The system is expected to connect with blockchain networks such as Solana to support on‑chain settlement.
The launch is part of SoFi’s broader push into digital assets. In June the firm resumed crypto trading for retail customers and expanded blockchain-based remittance services to more than 30 countries. In December SoFi’s banking subsidiary released SoFiUSD, a redeemable dollar-backed stablecoin that was initially launched on Ethereum.
The move reflects a wider industry trend of crypto-native and financial firms building integrated infrastructure for institutional use. In March, custody provider BitGo rolled out a financing platform that lets institutions 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 to add tax and compliance capabilities for audit-ready reporting. This week, Ripple added digital-asset functionality to its treasury platform so companies can manage crypto and fiat balances in a single interface.
Several firms are also pursuing U.S. banking charters to expand integrated crypto-financial services. EDX Markets applied to the Office of the Comptroller of the Currency to form a national trust bank, EDX Trust, aimed at separating custody and settlement from trading. Zerohash has applied for a national trust bank charter to broaden stablecoin and custody offerings. Other companies that have sought regulatory approval to offer combined crypto and banking services include Coinbase, Laser Digital and Payoneer.
This summary is based on reported developments; readers should independently verify details with official filings and company announcements.