SoFi Bank has introduced SoFiUSD, a U.S. dollar stablecoin fully backed by cash at the Federal Reserve. Initially for internal use, it aims to streamline payments for banks and fintechs and offers potential for partners to create their own stablecoins.

SoFi CEO Anthony Noto announced plans to reintroduce cryptocurrency investing by the end of the year, following a shift in regulatory guidelines under the Trump administration. The fintech company aims to integrate crypto capabilities across its product offerings and expand into various digital finance areas, citing a favorable regulatory environment for banks engaging in crypto activities.