SoFi Technologies has introduced Big Business Banking, a platform designed to let companies handle both traditional currency and digital asset transactions within a single regulated environment. The announcement, made on Thursday, describes a system that allows businesses to hold deposits, move funds and settle transactions at any hour using either fiat or crypto. The offering consolidates functions that have historically been distributed across banks, custodians and separate crypto service providers.
A notable feature of the platform is support for issuing and redeeming SoFiUSD, the company’s dollar-backed stablecoin. Businesses can convert between fiat and onchain assets while keeping their reserves inside a regulated banking structure. SoFi said the system is also expected to connect with blockchain networks, including Solana, to facilitate onchain settlement.
The launch includes participation from a range of firms spanning trading, payments and infrastructure sectors. Partners named in the announcement include Cumberland, BitGo, Bullish, B2C2, Fireblocks, Wintermute, Jupiter, Galaxy, Mesh Payments and Mastercard. Their involvement signals early institutional demand for integrated crypto and fiat banking services.
The Big Business Banking rollout is part of a broader push by SoFi into digital assets over the past year. In June, the company resumed crypto trading for users and extended blockchain-based remittance services to more than 30 countries. SoFiUSD itself was launched in December as a fully reserved, demand-redeemable stablecoin issued by SoFi’s banking subsidiary and initially deployed on Ethereum.
SoFi’s expansion comes as crypto-native firms are simultaneously building comparable infrastructure for institutional clients. In March, BitGo launched a financing platform enabling institutions to borrow and lend against liquid, staked and locked assets from within a single custody account. In January, Fireblocks acquired crypto accounting platform TRES for $130 million, adding tax and compliance tools to meet growing demand for audit-ready digital asset reporting.
This week, Ripple also added digital asset capabilities to its treasury platform, allowing companies to manage both crypto and fiat balances in one place. The moves collectively reflect a broader industry trend toward unified financial infrastructure that bridges traditional and digital asset systems for institutional users.
Beyond service expansion, several platforms are actively seeking US banking licenses to formalize their roles in the financial system. Crypto exchange EDX Markets applied on Wednesday to the Office of the Comptroller of the Currency to establish a national trust bank, aiming to separate custody and settlement from trading through a non-depository entity called EDX Trust. Earlier this month, Zerohash applied for a national trust bank charter to broaden its stablecoin and custody offerings, joining applicants such as Coinbase, Laser Digital and Payoneer in seeking regulatory approval for integrated crypto financial services.
Originally reported by CoinTelegraph.
