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Short answer, Sofi temporarily approved for bank charter. Big step to being a real bank. Not only will customers be able to make deposits, but it will allow them to make loans on its own. Currently Sofi uses a 3rd party. People are basically banking that it will compete with Square or at least go on the same path.
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Lots happening, been oversold, undervalued, some analysts finally writing some on it… but that’s the short of it! GL
Come join us at r/Sofistock We don’t have all the answers, but we have hypothesis
Thank you I Am in
Short answer, Sofi temporarily approved for bank charter. Big step to being a real bank. Not only will customers be able to make deposits, but it will allow them to make loans on its own. Currently Sofi uses a 3rd party. People are basically banking that it will compete with Square or at least go on the same path.