The news: SoFi will relaunch its crypto investing platform and will introduce self-serve international money transfers powered by blockchain technology by year’s end, per a press release.
How we got here: SoFi pulled out of the crypto arena in 2023 citing regulatory roadblocks for business.
But as friendlier regulators drive a new crypto hype cycle, SoFi joins a host of other financial institutions trying to get involved in the industry.
Remittance benefits: Crypto-integrations directly benefit remittance senders through their ability to dodge FX fees and speed up transfers.