How does crypto on SoFi work?

SoFi crypto lets members buy, sell and hold coins inside the SoFi app, funded from a SoFi checking or savings account. Unlike many apps that rely on a crypto partner, the account is a contract with SoFi Bank, N.A., which holds the coins itself. Decrypt reported that SoFi rolled out crypto trading on November 11, 2025, in phases with a waitlist.

Can you buy crypto on SoFi?

Yes, if you are eligible. SoFi's crypto account agreement, effective October 5, 2026, requires you to be at least 18, a US citizen or lawful resident of the 50 states or Washington, DC, with a Social Security number or ITIN and a street address. Accounts are for individuals only, not joint or business accounts.

At launch, Decrypt said the lineup included bitcoin, ether and solana among up to 30 assets. SoFi says the supported list can change. Federal bank regulators' changing stance on banks and crypto is covered in can banks hold crypto.

What are SoFi crypto fees?

SoFi's fee sheet sets a trading fee on each buy or sell based on that month's volume:

• $0 to $1,000. 1.90%
• $1,000 to $5,000. 1.50%
• $5,000 to $10,000. 1.25%
• Over $10,000. 0.90%

Tiers reset on the first of each month. One-for-one swaps between dollars and stablecoins are not counted as volume. There are no account, custody or inactivity fees, and SoFi does not charge to receive crypto, though the sender pays the network fee. Fee types in general are explained in what are crypto fees.

Can you withdraw crypto from SoFi?

Not to an outside wallet, as of October 2026. The account agreement says outbound transfers are not yet available. Until they are, you sell the coins for a stablecoin and redeem it to dollars in a linked SoFi account. SoFi's support page says it is working to add support for more assets.

Inbound transfers are allowed for supported assets. SoFi Bank stores most private keys itself and may use a sub-custodian for the rest, in a custodial wallet. It says crypto in the account is not insured by the FDIC or SIPC and that recovery could be limited if the bank failed.

What is the SoFi stablecoin?

SoFiUSD, shown in some documents with the ticker SOFID, is a dollar stablecoin issued by SoFi Bank. SoFi said on May 27, 2026, that it was the first stablecoin issued by a US national bank, available to members in the app on Ethereum and Solana. Holders can redeem it one for one with SoFi Bank, which says it keeps liquid assets to back every token and uses a licensed accountant for regular attestations.

SoFiUSD is the default stablecoin in a SoFi Crypto account, and USDC is also supported. SoFi notes it is not a deposit and is not FDIC insured. SoFi also offers a separate tokenized deposit, SOFIE, under its own terms.