The personal finance company that specializes in student loan refinancing will now allow its users to buy and sell cryptocurrencies alongside stocks and ETFs - it will charge 1.25% per trade and utilize partner exchanges such as Coinbase to complete transactions.
“Feedback from our members has made it clear that a significant percentage are not only interested in learning more about cryptocurrencies but are also already buying and selling crypto,” said SoFi CEO Anthony Noto. “We’re very pleased to be adding this new product to SoFi Invest, as access, education, and keeping costs low for our members is at the heart of what we do.” SoFi Invest users can leverage both automated (robo-advising) and active investing with no fees on stock trading or account minimums. SoFi also recently launched two zero-fee ETFs on the market and the ability to purchase fractional shared in over 100 stocks. The crypto trading product was first teased earlier this year, but SoFi missed the planned Q2 launch date.