SoFi Moves Deeper Into Commercial Banking With 24/7 Fiat-Crypto Platform / Fresh Today / CUToday.info

SAN FRANCISCO— SoFi Technologies said it is pushing deeper into commercial banking and digital assets with the launch of SoFi Big Business Banking, a new platform that lets enterprise clients manage both fiat and crypto activity through its nationally chartered bank, marking another sign of how fintechs are trying to expand beyond consumer checking and into business deposits and payments.

SoFi said the new offering is aimed at companies operating across both traditional and digital finance, allowing them to hold deposits, move money and settle transactions around the clock through its regulated banking platform. The company said the platform combines business deposit accounts, API-driven payments and settlement in fiat, SoFiUSD and selected cryptocurrencies, positioning it as a 24/7 alternative to traditional banking models.

CEO Anthony Noto said the launch is designed to address the limitations of “legacy banks” that still largely operate during traditional business hours, arguing companies increasingly need always-on access to payments, liquidity and treasury functions. SoFi said the product is built on its broader blockchain push over the last year, which has included crypto trading for members, the launch of SoFiUSD and infrastructure linking traditional finance with on-chain settlement.

Among the capabilities SoFi highlighted are regulated business deposit accounts, real-time payments, digital asset support tied to the “mint and burn” of SoFiUSD, and a unified interface for managing both traditional banking and digital asset activity. SoFi also said the platform is backed by direct access to the Federal Reserve and is intended to reduce the need for companies to rely on separate providers for fiat banking and crypto services.

SoFi said initial participants supporting the institutional rollout include Cumberland, Bullish, BitGo, B2C2, Fireblocks, Wintermute, Galaxy, Jupiter, Mesh Payments and Mastercard, with the platform expected to leverage Solana alongside other blockchain networks.

Analysts noted that the move underscores the broader competitive threat to financial institutions from fintechs seeking to capture not just consumer relationships, but increasingly business deposits, treasury flows and payments volume as well.