Digital Finance Firm SoFi Hands Its Crypto Business to Blockchain.com

SoFi Technologies (SOFI), an online bank and financial-services company, is exiting the cryptocurrency business, telling customers they can transfer their digital assets to Blockchain.com's platform or liquidate them. The closure takes effect on Dec. 19, according to an email it sent customers Wednesday. SoFi's transition away from directly offering crypto services may be tied to its decision to become a bank holding company. Blockchain.com President Lane Kassleman said SoFi still wants to offer crypto services to its customers, hence the Blockchain.com partnership. Kassleman said the partnership equates to hundreds of thousands of users and hundreds of millions of dollars.

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