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SoFi CEO Dives Deeper Into Crypto With Bitcoin, Ethereum Rewards

  • CEO Noto says customers are clamoring for access to crypto
  • Executive likens Bitcoin to Amazon, EBay in the late 1990s

Social Finance Inc. is edging deeper into cryptocurrencies, allowing its customers to redeem rewards earned through the company’s app for Bitcoin or Ethereum.

Starting Thursday, clients can apply their 2% cash-back rewards on the SoFi credit card toward the two cryptocurrencies, Chief Executive Officer Anthony Noto said in a phone interview. The crypto program is among the first to be made available in the industry.