SoFi Launches Big Business Banking With 24/7 Fiat and Crypto Settlement for U.S. Enterprises
SoFi Technologies (Nasdaq: SOFI) made the announcement on Thursday, positioning the product as direct competition to the legacy banking model that shuts down at 5 p.m. on Fridays. The offering targets institutions and enterprise clients that need to operate across both traditional and digital finance without patching together multiple providers and custodians.
CEO Anthony Noto framed the gap plainly. “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,” Noto said.
The SoFi executive added:
“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.”
The platform is built on SoFi Bank, N.A., which holds a national bank charter and maintains direct Federal Reserve access. That regulatory foundation distinguishes it from fintech workarounds that rely on partner banks or offshore infrastructure. Clients get FDIC-insured deposit accounts with institutional-grade capacity.
The April 2 launch follows two foundational moves from late 2025. In November, SoFi became the first FDIC-insured national bank to offer retail crypto trading, allowing consumers to buy, sell, and hold bitcoin, ethereum, solana, and other digital assets directly inside the app. In December, SoFi Bank issued SoFiUSD, a fully reserved dollar stablecoin running on a public, permissionless blockchain.
Big Business Banking ties those pieces together for the enterprise market. Companies can hold U.S. dollar deposits, move funds in fiat or SoFiUSD, and settle in select cryptocurrencies. Transfers run 24/7/365 through an API-driven system, removing the settlement delays that standard banking hours impose on global operations.
A mint-and-burn mechanism sits at the core of the digital asset layer. Enterprises can convert between fiat and SoFiUSD instantly while keeping reserves inside SoFi’s regulated bank environment. The platform is expected to use Solana among its blockchain settlement networks, alongside others.
Unified financial operations are the practical result. One interface manages traditional banking activity and digital asset activity together, cutting the complexity that comes from juggling separate custodians, payment rails, and crypto service providers.
Ten firms are participating in the initial institutional rollout, supporting the launch of SoFiUSD and building on SoFi’s regulated infrastructure. They include Cumberland, Bullish, BitGo, B2C2, Fireblocks, Wintermute, Galaxy, Jupiter, Mesh Payments, and Mastercard.
SoFi’s Galileo technology platform provides the backend infrastructure powering these API-driven capabilities. Galileo currently supports more than 128 million accounts globally across fintechs, financial institutions, and brands, giving Big Business Banking an existing foundation for scale.
The offering is currently focused on enterprise and institutional clients. Broader availability for smaller businesses has not been announced. SoFi reported 13.7 million members as of the launch date. The company’s stock trades on Nasdaq under the ticker SOFI.
The product represents the company’s clearest move yet into regulated crypto banking infrastructure for institutions, a segment that has operated largely through informal arrangements between crypto-native firms and smaller banks since the collapse of Silvergate and Signature in 2023.
FAQ 🧭
- What is SoFi Big Business Banking? It is a regulated enterprise banking platform from SoFi Bank, N.A. that allows companies to hold deposits, move money, and settle transactions in fiat currency, SoFiUSD, or select cryptocurrencies around the clock from a single nationally chartered bank.
- Which firms are participating in the SoFi Big Business Banking launch? Initial participants include Cumberland, Bullish, BitGo, B2C2, Fireblocks, Wintermute, Galaxy, Jupiter, Mesh Payments, and Mastercard.
- What blockchain does SoFi Big Business Banking use? The platform is expected to leverage Solana alongside other blockchain networks for settlement, with SoFiUSD serving as a primary digital asset rail.
- How can businesses apply for SoFi Big Business Banking? Enterprises and institutions can contact [email protected] or visit sofi.com/business-banking/commercial to explore infrastructure partnerships.
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