SoFi Expands into Enterprise Banking with Solana Blockchain

SoFi Technologies has launched Big Business Banking, an enterprise-focused platform that brings traditional financial services to the cryptocurrency space under its nationally chartered bank structure.

The platform allows institutions to hold deposits, move funds, and settle transactions around the clock using both fiat and digital assets. Solana is expected to serve as one of the underlying blockchain networks for this service.

In addition to 24/7 settlement support, the platform will also enable instant conversion between fiat and on-chain assets through mint-and-burn functionality for SoFiUSD. Initial participants include major market players such as Cumberland, BitGo, Wintermute, Galaxy, Jupiter, and Mastercard.