Online Lender SoFi to Launch Bitcoin and Ethereum Trading Next Week

The millennial-focused SoFi will offer trading in bitcoin, ethereum and litecoin next Tuesday and source its liquidity from Coinbase.

By Daniel Kuhn

Sep 25, 2019, 4:15 PM

Updated Aug 18, 2021, 11:42 PM

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Online lender SoFi announced its crypto trading platform will go live next Tuesday.

Bitcoin, ethereum and litecoin will be the first digital assets available to trade on its SoFi Invest platform, CEO Anthony Noto told Fortune in an interview published on Wednesday.

With the new platform, SoFi joins a number of digital-first trading firms – including eToro and Robinhood – to enter the crypto market.

Noto said cryptocurrency trading option has been long-requested by his firm’s clients. The firm targets millennial investors through its student loan consolidation service.

Coinbase was tapped to provide the firm’s crypto liquidity, as previously announced in February. The partnership will also allow SoFi customers to track crypto price movements.

The firm states it hopes to become registered in all 50 states within a few months, noting that trading will not be available in New York or New Jersey at launch.

Business miniature photo via Shutterstock

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Daniel Kuhn

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