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SoFi Launches New Feature for Investing in Crypto with Zero Fees

Tue, 03/22/2022 - 16:14
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Alex Dovbnya
SoFi now allows customers with recurring deposits to buy crypto with zero fees
SoFi Launches New Feature for Investing in Crypto with Zero Fees
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San Francisco-based online personal finance company SoFi rolled out a new feature that allows its users to invest a portion of their recurring deposits into a wide selection of cryptocurrencies without paying any fees, the company announced Tuesday.

The owners of the company's checking and savings accounts are able to choose between 30 different coins offered.

In his statement, SoFi CEO Anthony Noto claims that the company has experienced a twofold increase in the number of customers who choose recurring cryptocurrency purchases.

SoFi, which was originally founded as a student loan start-up back in 2011, has since expanded its offering with a vast array of financial services.

In September 2019, it launched cryptocurrency trading, initially adding support for three cryptocurrencies (Bitcoin, Litecoin and Ethereum) due to strong demand.

Last June, the company went public after agreeing to a deal with a special purpose acquisition company helmed by controversial billionaire Chamath Palihapitiya.

In late January, SoFi was also given the greenlight by federal regulators to implement its ambitious goal of becoming a national bank. Noto described that achievement as an "incredible" milestone.

However, the SoFi Bank entity has been explicitly prohibited from touching cryptocurrencies by the U.S. Office of the Comptroller of the Currency (OCC).

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at