California-based SoFi, which launched the cryptocurrency trading service in September, received permission to work with New Yorkers from the Financial Services Authority (NYDFS), better known as BitLicense.
Putting our members’ interests first is our top priority at SoFi. That includes both offering individuals the products they want, like cryptocurrency within SoFi Invest, as well as protecting them, through a solid regulatory framework like that created by the New York State Department of Financial Services. We’re thrilled to now be able to offer the trading of cryptocurrency, in addition to active and automated investing, as part of SoFi Invest in New York State, in addition to the full suite of SoFi products that help our members borrow, save, spend, invest, and protect their money.
SoFi also offers customers equity investments and ETFs. One of the company’s activities is the refinancing of student loans.
As reported in the press release, since 2015, DFS has granted 24 virtual currency licenses or trust charters, including the virtual currency license being announced today.
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