US Giant Bank Announces New Cryptocurrency Move! Solana is Also Mentioned!
SoFi, a US-based financial institution with a national bank license, has made an announcement concerning cryptocurrencies, and specifically Solana (SOL).
According to the official announcement, SoFi has launched a new banking platform for businesses that combines both fiat and cryptocurrency transactions under a single regulated system.
SoFi has launched a platform called SoFi Big Business Banking that enables businesses to manage fiat currencies and cryptocurrencies from a single regulated platform.
SoFi Big Business Banking allows firms to hold US dollars, convert them into stablecoins, and move funds 24/7 within SoFi’s regulated bank.
With the new platform and system, a trading firm can deposit dollars into SoFi, convert them into cryptocurrencies like SoFiUSD, and instantly transfer those funds to the markets without waiting for bank transfers. Funds can also be quickly converted back to dollars.
Initial participants will include Cumberland, Bullish, Bitgo, B2c2, Fireblocks, Wintermute, Galaxy, Jupiter, Mesh Payments, and Mastercard.
SoFi CEO Anthony Noto said, “Today, to be competitive, businesses need to operate 24/7 in a global, constantly active environment, while traditional banks often still only offer 9-to-5 services on weekdays. SoFi Big Business Banking is changing that by combining the power and regulatory infrastructure of a nationally mandated bank with the speed, scale, and flexibility that companies need to move and manage money or digital assets in real time.”
It was also stated that the platform will use blockchain networks, including Solana (SOL), to conduct transactions.
*This is not investment advice.
Continue Reading: US Giant Bank Announces New Cryptocurrency Move! Solana is Also Mentioned!
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