"SoFi Big Business Banking is changing that by combining the strength and regulatory foundation of a nationally chartered bank with the speed, scale, and flexibility companies need to move and manage money or digital assets in real time."
"To be competitive, businesses today must operate in a global, always-on environment 24 hours a day, 7 days a week, while legacy banks typically still operate 9 to 5, Monday to Friday."
SoFi Technologies introduced SoFi Big Business Banking, allowing enterprises to hold deposits and conduct transactions in both fiat and cryptocurrency continuously. This platform aims to compete with traditional banks that operate limited hours. CEO Anthony Noto emphasized the need for businesses to function in a global, always-on environment. The service is built on SoFi Bank, N.A., which has a national bank charter and direct Federal Reserve access, providing clients with FDIC-insured accounts and institutional-grade capabilities. This launch follows SoFi's previous innovations in retail crypto trading and the issuance of a stablecoin.
Read at news.bitcoin.com
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