SoFi’s re-entry into crypto reflects a significant shift as the Office of the Comptroller of the Currency (OCC) has released new guidance facilitating banks’ engagement in cryptocurrency. CEO Anthony Noto emphasized a broader integration of crypto solutions across their products.
Following SoFi’s announcement, other banks like Bank of America and Morgan Stanley are also exploring opportunities in crypto. Despite economic uncertainties, SoFi has reported its fastest revenue growth in over a year, boosting confidence in its upcoming crypto ventures.
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