SoFi Transfers Crypto Business to Blockchain.com Ahead of Becoming Bank
• SoFi handing its crypto business to Blockchain.com, possibly due to becoming a bank holding company • Partnership equates to hundreds of thousands of SoFi crypto users and hundreds of millions in assets • Transition taking effect Dec. 19; SoFi crypto services no longer allowed under U.S. banking rules • Blockchain.com has had over a year to prepare for onboarding SoFi's crypto customers • As of Sept. 30, SoFi held $139.4 million in crypto assets that will transfer to Blockchain.com