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Online Lender SoFi to Launch Bitcoin and Ethereum Trading Next Week
The millennial-focused SoFi will offer trading in bitcoin, ethereum and litecoin next Tuesday and source its liquidity from Coinbase.
Online lender SoFi announced its crypto trading platform will go live next Tuesday.
Bitcoin, ethereum and litecoin will be the first digital assets available to trade on its SoFi Invest platform, CEO Anthony Noto told Fortune in an interview published on Wednesday.
STORY CONTINUES BELOW
With the new platform, SoFi joins a number of digital-first trading firms – including eToro and Robinhood – to enter the crypto market.
Noto said cryptocurrency trading option has been long-requested by his firm’s clients. The firm targets millennial investors through its student loan consolidation service.
Coinbase was tapped to provide the firm’s crypto liquidity, as previously announced in February. The partnership will also allow SoFi customers to track crypto price movements.
The firm states it hopes to become registered in all 50 states within a few months, noting that trading will not be available in New York or New Jersey at launch.
Business miniature photo via Shutterstock
Daniel Kuhn
Daniel Kuhn was a deputy managing editor for Consensus Magazine, where he helped produce monthly editorial packages and the opinion section. He also wrote a daily news rundown and a twice-weekly column for The Node newsletter. He first appeared in print in Financial Planning, a trade publication magazine. Before journalism, he studied philosophy as an undergrad, English literature in graduate school and business and economic reporting at an NYU professional program. You can connect with him on Twitter and Telegram @danielgkuhn or find him on Urbit as ~dorrys-lonreb.
