SoFi Launches Big Business Banking With 24/7 Fiat and Crypto Settlement for U.S. Enterprises

SoFi Technologies (Nasdaq: SOFI) made the announcement on Thursday, positioning the product as direct competition to the legacy banking model that shuts down at 5 p.m. on Fridays. The offering targets institutions and enterprise clients that need to operate across both traditional and digital finance without patching together multiple providers and custodians.

CEO Anthony Noto framed the gap plainly. “To be competitive, businesses today must operate in a global, always-on environment 24 hours a day, 7 days a week, while legacy banks typically still operate 9 to 5, Monday to Friday,” Noto said.

The SoFi executive added:

“SoFi Big Business…