SoFi Becomes First U.S. National Bank to Take Deposits on Solana
SoFi has become the first U.S. national bank to accept deposits directly on the Solana blockchain, enabling customers to move Solana (SOL) on-chain into actual wallets rather than holding brokered crypto exposure. The company, which serves roughly 13.7 million customers and manages over $50 billion in assets, is offering the feature under a federal bank charter—bringing native chain transfers into a fully regulated banking context.
The development could reshape how regulated financial institutions interact with public blockchains by narrowing the gap between traditional banking services and decentralized rails. Industry watchers say the move may prompt other banks and regulators to clarify rules around native crypto deposits, and it could increase retail on-chain activity for SOL by reducing custody frictions and simplifying access under federal oversight.