SoFi, a US-based financial institution with a national banking license, is a US-based financial institution with a national banking license.$SOL).
According to an official announcement, SoFi has launched a new banking platform for businesses that combines both fiat and crypto trading under a single regulatory system.
SoFi has launched a platform called SoFi Big Business Banking that allows businesses to manage fiat and cryptocurrencies from a single regulated platform.
SoFi Big Business Banking allows businesses to hold USD, convert it to stablecoins, and move funds within SoFi’s regulated banks 24/7.
Using the new platform and system, trading companies can deposit dollars into SoFi, convert them to cryptocurrencies such as SoFiUSD, and instantly send those funds to the market without waiting for a bank transfer. You can also convert your funds back to dollars instantly.
Early participants include Cumberland, Bullish, Bitgo, B2c2, Fireblocks, Wintermute, Galaxy, Jupiter, Mesh Payments, and Mastercard.
“Today, to stay competitive, businesses need to be open 24/7 in a global, always-on environment, but traditional banks still often only offer 9-5 service on weekdays,” said SoFi CEO Anthony Noto.SoFi Big Business Banking is changing this by combining nationally mandated banking powers and regulatory infrastructure with the speed, scale and flexibility businesses need to move and manage money and digital assets in real time.
It is also stated that the platform uses blockchain networks, including Solana ($SOL), to conduct transactions.
*This is not investment advice.
