Loan refinancer and BitLicensee SoFi is clear to launch a national bank in the US
Cointelegraph
Published Oct 28, 2020 04:55PM ET
Updated Oct 28, 2020 06:40PM ET
In an announcement on Wednesday, the Office of the Comptroller of the Currency (OCC) granted SoFi a conditional license to operate as a national bank in the United States.
The OCC is the office of the U.S. Treasury that regulates federal banks throughout the country. SoFi, which stands for Social Finance, is a fintech startup that has historically provided loans and refinancing services. In 2019, the firm launched crypto trading, and last December, the New York Department of Financial Services granted SoFi a coveted BitLicense.
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Written By: Cointelegraph
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