Online bank SoFi Technologies (SOFI) is shutting down its cryptocurrency services and moving its customers to the Blockchain.com platform. The closure of the cryptocurrency business will take place on December 19.
The decision may be due to SoFi becoming a bank holding company, and the US Federal Reserve does not allow it to engage in cryptocurrency operations.
Blockchain.com President Lane Castleman said the partnership with SoFi covers hundreds of thousands of users and hundreds of millions of dollars.
The decision may be due to SoFi becoming a bank holding company, and the US Federal Reserve does not allow it to engage in cryptocurrency operations.
Blockchain.com President Lane Castleman said the partnership with SoFi covers hundreds of thousands of users and hundreds of millions of dollars.