SoFi Enables On-Chain Solana Deposits for 13.7M Users
SoFi now enables direct on-chain Solana deposits for its 13.7 million users, allowing external wallets to send SOL into SoFi crypto accounts for in-app buying, selling and holding. It is the first US-chartered bank to integrate live Solana network deposits alongside checking, savings and other financial products.
1. SoFi Launches On-Chain Solana Deposits
SoFi has rolled out support for direct Solana network deposits, enabling its 13.7 million customers to transfer SOL from external wallets into their SoFi crypto accounts. Users can now buy, sell and hold SOL entirely within the SoFi app, marking a shift beyond traditional brokerage-style exposure.
2. Banking Integration and Market Impact
As the first US-chartered bank to integrate live Solana deposits, SoFi allows customers to manage blockchain assets alongside checking, savings and other banking products through a single interface. This integration is expected to drive increased engagement with SoFi’s digital asset services and open new cross-selling opportunities.
3. Company Background and Digital Strategy
Founded in 2011 as a student loan refinancing platform, SoFi obtained its national bank charter and now holds over $50 billion in assets with tens of billions in deposits. The Solana deposit feature underscores SoFi’s broader strategy to bridge regulated banking infrastructure with public blockchain networks.