Anthony Noto, CEO Social Finance Inc. (SoFi), said that SoFi, a modern finance company that partner with members to offer service and refinancing student loans, wants to have by 2019 its members had the opportunity to invest in the cryptocurrency.
As Noto said in an interview with CNBC “Power Lunch”:
“We want to accelerate our investment in some new products, one of which is our wealth products, and we want to add cryptocurrency to that.”
The activities of SoFi are aimed at millennials – a generation born after 1980, and the first generation that has reached adulthood in the new millennium. The company also focused on a variety of modern banking products, which, according to Noto, helps millennials “achieve financial independence and realize their ambitions”. Social Finance began operations in 2011 with an emphasis on refinancing student loans, but has since focused on more general banking solutions.
Previous post Anthony Noto was Chief Operating Officer of Twitter, then he joined SoFi after the previous CEO and co-founder Mike Cagney resigned after allegations of sexual harassment.
According to Noto, SoFi has planned a big year, which begins with continued investment in key lending products, such as student and personal loans and mortgage products. And by 2019 SoFi hopes to expand its own capital and brokerage activity, launch a personal account SoFi Money, and, of course, get into the cryptocurrency. As Noto said:
“We hope it is something we can roll out with general availability in 2019, potentially sooner.”
SoFi says it has 500,000 members and today has granted loans amounting to $25 billion. The company raised $2.1 billion in funding, including $500 million in a round led by Silver Lake Partners.
“If we can build the best offer for our members, being the fastest, having the best choice, having the best content and the best convenience, ultimately, we will control our own destiny”, Noto summed up.