SoFi Lending Platform For Millennials Offers Chance To Purchase Crypto With Coinbase Partnership
Online Lending Platform For Millennials Offers Change To Purchase Crypto Through Coinbase Partnership
Plenty of studies have shown that the millennial generation is interested in cryptocurrency, and many of this generation has even suggested that they are more trusting in digital currency than the overall stock market. To help this audience get involved with lending and the traditional financial market, SoFi was created. However, recognizing the desire that consumers have for a plethora of investment options, SoFi has partnered with Coinbase. In their partnership, users of the SoFi platform will have the ability to purchase cryptocurrency.
In a report from CNBC, CEO Anthony Noto of SoFi said,
“Our target audience wants to see what the price of cryptocurrency is, and to buy it. They have a desire to do that and in many cases they already are.”
At this point, the list of cryptocurrencies that will be available to consumers is not yet available.
Along with the ability to purchase cryptocurrency, users will have the ability to track the prices of cryptocurrencies, which is much like the arrangement that Coinbase has with Fidelity Investments. While the arrangement does not provide the same opportunity for crypto trading that the collaboration with SoFi does, Fidelity has already voiced plans to launch digital asset trading for institutional investors in 2019.
SoFi’s platform was originally established in 2011, aimed at helping students to more easily afford college through consolidation loans that the alumni provided. Basically, SoFi got its start in peer-to-peer finance, prior to their exploration into mortgages and investment products.
Despite the report already being available from CNBC, neither Coinbase or SoFi have commented on this matter.