SoFi Offers PENGU Trading Among 40 Cryptocurrencies Through Its Banking Services
Key Facts
SoFi offers trading in PENGU, the token associated with the Pudgy Penguins project, on a current list of 40 cryptocurrencies, according to the company's official support center. The list places the token among assets available for trading through SoFi's cryptocurrency services, provided by SoFi Bank, a U.S. national bank. The offering combines access to a token its developer describes as a community and meme token with a service provided by a banking institution. The company says on its support page that it intends to offer additional coins in the future, continuing to expand its trading options. PENGU's inclusion on the list is part of SoFi's broader digital-asset activity, encompassing cryptocurrency trading, transaction execution and stablecoin issuance.
The current list exceeds the offering SoFi described when it announced the launch of its stablecoin, when it said members could buy, sell and hold about 30 cryptocurrencies. That puts the current total of 40 coins in the context of an expanding range of assets compared with its earlier announcement. SoFi had opted to roll out its cryptocurrency service in stages, rather than make it available to all members at launch. It said in the launch announcement that the service would become available to more members over the following weeks as the phased rollout progressed. The return to offering the service followed an earlier decision to halt cryptocurrency operations by the end of the year in which its withdrawal announcement was issued.
On transaction execution, SoFi announced it would use Kraken Prime to execute digital-asset trades as part of its partnership with Payward to connect banking services with digital-asset markets. The agreement adds trade execution to the components of the company's announced cryptocurrency expansion, alongside the banking service it makes available to members. "The financial system should not stop working when markets remain open," SoFi Chief Executive Anthony Noto said in the partnership statement. Noto thus linked the financial system's continued operation with ongoing market activity in describing the company's approach. SoFi provides cryptocurrency services through its national bank, while identifying Kraken Prime as the service it would use to execute trades.
The Pudgy Penguins project, associated with the PENGU token available at SoFi, dates back to 2021, according to the brand's official website. The project began as a collection of 8,888 collectible digital penguin characters, the foundation from which the brand emerged. The project describes its token on its website as a "token for community, memes and good vibes," presenting its identity through the community associated with it. That description places PENGU in the context of a brand that began with digital collectibles and penguin characters before introducing a token bearing its name and community identity. Through its inclusion on SoFi's list, the token is also among the cryptocurrencies the company offers through the services of its U.S. national bank.
Offering cryptocurrencies through a national bank comes with clear limits on insurance protection, as SoFi says these assets are not insured by the Federal Deposit Insurance Corporation. They are also not covered by Securities Investor Protection Corporation insurance, according to the disclosure published on the same service page. The company warns in the disclosure that digital assets may lose their value, as part of the terms accompanying its services. On the regulatory front, the U.S. Office of the Comptroller of the Currency confirmed in an interpretive letter that national banks and federal savings associations are permitted to custody digital assets. The clarification also covered certain stablecoin activities, within the regulatory framework defining the digital activities permitted for these banking institutions.
Alongside its trading services, SoFi announced its SoFiUSD stablecoin as another part of its activity in financial infrastructure linked to digital assets. The company said the coin is fully backed by cash, with reserves matching its value at a 1:1 ratio, according to the description it provided at launch. SoFi linked this cash backing to instant redemption, the use it specified for the reserves supporting the stablecoin. The announcement targeted financial infrastructure for banks, financial technology companies and institutional partners, alongside the company's business serving its members. In the same stablecoin announcement, SoFi presented cryptocurrency buying, selling and holding as services available to members within its digital product range.
Behind these activities is a company that said in a statement published in September 2026 that its total membership stood at 15.8 million. The figure appeared in the investor relations statement setting the date for discussion of its third-quarter results, as part of the company's description of its membership scale. SoFi is scheduled to hold its earnings call on Tuesday, October 27, 2026, according to the date it announced to investors. The company set 8 a.m. U.S. Eastern Time as the start time for the call devoted to third-quarter results. The upcoming discussion of SoFi's business follows its announcements on digital-asset trading, its execution partnership and its stablecoin, with PENGU available on its current cryptocurrency list.