SoFi, an online personal finance company announced in its blog on 26 February about its venture to support crypto trading in the coming months.
Besides Crypto trading, SoFi is promising to offer a ton of new features over the coming months started-off with the major accomplishments of last year. SoFi has now surpassed 30 billion U.S. dollars in its lending business.
Anthony Noto, SoFi’s CEO in an exclusive interview with CNBC cited:
“We want to accelerate our investment in some new products that will build up the portfolio one of which is our wealth products, and we want to add brokerage as well as cryptocurrencies to that.”
Anthony did not share information on what cryptocurrencies would be initially offered but indicated that SoFi was working with Coinbase to facilitate trading. SoFi had declared in May last year about its integration of digital coins into its online wealth management services.
Anthony had earlier expressed initiative to accelerate their investment in some new products. These new products would encompass wealth products and cryptocurrencies would be a worthy addition.
SoFi proudly headlined that so far the firm was only known to be a lender. This paradigm would change and SoFi would strive to allow customers save, borrow, spend, invest and safeguard their money. SoFi noted that it had streamlined many of its services and now offers robust productivity gain.
SoFi also recommended some guidelines if customers are stuck with effectively no interest and levied high fees. SoFi promised to ease such issues with solutions like joint accounts and savings vaults. SoFi, as an additive promised seamless stock trading while also scaling on its educational content.
Similarly, another firm brought in cryptocurrencies; Empower, an online personal financial assistant, announced last year, a cryptocurrency exchange integration with Coinbase, Bittrex, Binance, and Kraken. Empower users are now facilitated to view all investments both cryptocurrency and conventional under one platform.