Fintech Startup SoFi to Roll Out Crypto Trading Via Partnership With Coinbase

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Cointelegraph | Marie Huillet | Feb 27, 2019

sofo and coinbase - Fintech Startup SoFi to Roll Out Crypto Trading Via Partnership With Coinbase

Fintech startup SoFi — known for its online lending services — is partnering with major United States-based crypto exchange Coinbase to roll out crypto trading support, according to a CNBC report Feb. 26.

Sofi, which is headquartered in San Francisco, will reportedly launch its crypto services by the second quarter of 2019. Sofi CEO Anthony Noto — who was formerly Twitter’s chief operating officer and also a managing director at Goldman Sachs — told CNBC:

“Our target audience wants to see what the price of cryptocurrency is, and to buy it. They have a desire to do that and in many cases they already are.”

Buying, selling and price monitoring of cryptocurrencies is to be launched under the aegis of SoFi Invest — a new investment product that went live earlier this month. While not disclosing which cryptocurrencies are to be listed, Noto proposed that the notorious volatility of the digital assets and protracted crypto winter may in fact be considered an advantage by some. It’s a “two-sided coin,” he reportedly suggested, noting “some people may see it as an opportunity.”

See:  The 11 Biggest Fintech Companies In America 2019

In addition to crypto services, SoFi — which launched with an initial focus on student-loan financing back in 2011 — is reportedly also introducing an Annual Percentage Yield account for user deposits. It has also reportedly filed for two exchange-traded-funds, a credit card, and an initial public offering (IPO) in the longer term.

As reported yesterday, Coinbase’s professional trading platform, Coinbase Pro, has just launched support for trading Ripple’s XRP token, with trading pairs against the U.S. dollar, the euro, and  Bitcoin (BTC).

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NCFA Jan 2018 resize - Fintech Startup SoFi to Roll Out Crypto Trading Via Partnership With Coinbase The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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