SoFi Technologies Inc., the financial firm led by former Twitter Inc. executive Anthony Noto, surged after the Office of the Comptroller of the Currency granted it a U.S. banking charter.
The online lending platform acquired Golden Pacific Bank as a path to getting the full-fledged banking license, the regulator said in a statement on Tuesday. While the entity will have a national reach and SoFi’s well-established digital lending platform, the OCC said that the new license didn’t cover crypto transactions.
