SAN FRANCISCO — SoFi Technologies said it has launched a new enterprise-focused platform, SoFi Big Business Banking, aimed at allowing companies to manage both traditional and digital assets within a single regulated banking environment.
The company said the new offering enables businesses to hold deposits, move money and settle transactions around the clock through its nationally chartered bank, reflecting growing demand for always-on financial services, according to SoFi.
“To be competitive, businesses today must operate in a global, always-on environment 24 hours a day, seven days a week, while legacy banks typically still operate nine to five, Monday to Friday,” CEO Anthony Noto said in a statement. “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.”
The launch builds on SoFi’s broader push into blockchain-enabled financial services. Over the past year, the company said it has introduced cryptocurrency trading capabilities for members, launched its digital currency SoFiUSD, and developed infrastructure connecting traditional banking with blockchain-based systems.
SoFi said the new platform is designed to provide a unified system for businesses operating across both fiat and digital finance, reducing reliance on multiple providers.
Key Capabilities
According to SoFi, key capabilities include:
- Regulated business deposit accounts: High-capacity accounts held within SoFi’s nationally chartered bank, offering institutional-level safeguards and transparency.
- Real-time, API-driven payments: Continuous 24/7/365 money movement and settlement, including transactions in fiat, SoFiUSD and select cryptocurrencies.
- Digital asset enablement: Support for creating and redeeming SoFiUSD, enabling conversion between traditional and digital assets within a regulated environment.
- Unified financial operations: A single interface for managing banking and digital asset activity, designed to streamline operations and reduce complexity.
Support for Network
The platform is supported by a network of financial and crypto firms, including Cumberland, Bullish, BitGo, B2C2, Fireblocks, Wintermute, Galaxy, Jupiter, Mesh Payments and Mastercard, according to SoFi.
SoFi said the platform is expected to leverage the Solana blockchain along with other networks as it expands its capabilities.
The company said the new offering is intended to help businesses operate more efficiently across traditional and digital financial systems as adoption of digital assets continues to grow.
