SoFi rolls out ‘Big Business Banking’ to fuse fiat and crypto rails

SoFi’s new Big Business Banking platform lets institutions manage fiat, SoFiUSD, and crypto in one Solana-powered, chartered bank stack, targeting wholesale stablecoin settlement flows.

SoFi has launched an enterprise banking platform dubbed “Big Business Banking,” allowing institutions to manage fiat balances and digital assets in a single regulated environment, according to The Block. The service runs under SoFi Bank’s national charter, offering 24/7 payments and liquidity management and positioning the lender as one of the first U.S.-regulated banks to industrialize stablecoin-based settlement for corporates.markets.

The new platform supports API-driven payments in U.S. dollars, SoFiUSD — SoFi’s fully reserved, dollar‑pegged stablecoin — and specific cryptocurrencies, while giving clients tools to convert between fiat and digital assets, including minting and burning SoFiUSD inside a controlled framework. SoFiUSD is issued by SoFi Bank, N.A., a nationally chartered and FDIC‑insured institution, and is designed to run on public blockchains with instant, round‑the‑clock settlement. As SoFi explained in earnings materials, the stablecoin is meant to be a core settlement asset across its ecosystem rather than a speculative token.

The first wave of institutions onboarded to Big Business Banking includes trading firms and infrastructure providers such as Cumberland, Bullish, BitGo, B2C2, Fireblocks, Wintermute, Galaxy, and Jupiter, The Block reported. These names underscore SoFi’s aim to sit at the center of institutional crypto liquidity, rather than simply servicing retail flows.

Under the hood, the platform relies on Solana and other blockchain networks for transaction processing, reflecting SoFi’s broader push into high‑throughput, low‑cost settlement rails. Earlier this year, SoFi became the first U.S.-chartered bank to support direct Solana network deposits for its roughly 13.7 million users, enabling on‑chain SOL transfers into SoFi crypto accounts.finance.

SoFi has framed SoFiUSD as a wholesale settlement token for banks, fintechs, and payment processors, not just a consumer stablecoin. In a recent appearance shared by SoFi on LinkedIn, CEO Anthony Noto said that “SoFi USD will be the means of corresponding banking between banks, but also be the way to move money cheaper, faster and safer,” describing it as core to the company’s “big business banking” strategy.

That strategy has already extended into card networks. As previously reported in a crypto.news story, SoFi and Mastercard agreed to use SoFiUSD for settlement across Mastercard’s global network, connecting SoFi Bank and its Galileo platform to tokenized payment flows. The move comes as the European Central Bank warns that large‑scale stablecoin adoption could erode commercial bank funding just as firms like SoFi, Visa and others expand token‑based settlement models.

Big Business Banking also lands in a market where other regulated players are accelerating their own tokenization efforts. In an earlier crypto.news story, SoFi’s launch of consumer crypto trading marked it as the first nationally chartered U.S. bank to bridge traditional deposits with in‑app crypto trading, with stablecoin issuance already flagged as a key initiative. Another crypto.news story highlighted BNY’s push into stablecoin reserve funds as it targets a potential $1.5 trillion market, signaling rising competition among incumbents to own institutional stablecoin flows.

For now, SoFi is betting that offering corporates a single stack for cash management, liquidity, and on‑chain settlement — backed by a bank charter and its in‑house SoFiUSD token — will give it an edge as treasurers and trading firms move more volume onto blockchain rails.