Crypto coins are set to be used for personal loans and land loans on July 12, according to a statement from a spokesperson for Sofi.
The Sofi spokesperson told CoinDesk:The launch of personal loan and land loan will allow consumers to invest in their financial future and create new wealth.
This will be especially helpful for people with little to no savings, and who are struggling to pay their bills.
Users of Sofi’s mobile app can access a dashboard that will show how much they are saving and how much money they have invested.
It will be possible to invest directly in the Sofi platform, without having to wait for a deposit from a lender or invest in an exchange.
The spokesperson added that the launch of SoFi will also allow people to choose to invest using their personal credit cards, so they can save on their bills, while still having access to the platform for direct investment.
The launch will be followed by the launch on July 15 of a mobile application called Land Loans, which will allow borrowers to create and redeem a limited amount of credit to buy and sell property.
The first 100,000 people to register with Land Loans will be able to get a 25 percent discount on their first purchase, the spokesperson said.
The representative did not disclose how much the personal loan will cost or when it will be available.
Users will be allowed to pay in cryptocurrencies as well as traditional fiat currency.
The statement said that the personal loans will be offered in a range of currencies, including Bitcoin, Litecoin, Ethereum, and Dogecoin.
Users who choose to participate in the personal lending program can access the application at a discounted rate, which is around 30 percent to 60 percent less than traditional loans.
Users can apply by logging into the SoFi app via the dashboard or by entering their email address, and a representative will contact them when they are ready to open a new loan.
SoFi is currently accepting applications for the personal lender program.
Sofi said that its personal loans program was launched on March 4, 2016, and that the company had a total of over 1.8 million borrowers, who have invested in over 2.6 million properties.
For more, see: Sofi, a new startup, is going public.