Anthony Noto, the CEO of SoFi Technologies, believes that companies that don’t recognize the advances of blockchain technology risk their competitive advantage. He highlighted that if companies don’t innovate and don’t use cryptocurrency as a technology platform, they will be left behind.
Noto says the business will be smaller and less competitive. And there will be less innovation and less of a value proposition for consumers. The former Twitter COO said his personal finance firm is recording the benefits of its naming rights for Ram’s home stadium. In 2019, SoFi had invested millions of dollars for the stadium’s naming rights for the next two decades.
Noto also revealed that his family has invested in cryptocurrencies – Bitcoin, Ethereum, and some obscure and assorted digital assets. He said it’s a small part of what they own.
In regards to crypto trading on SoFi, Noto said the platform gives investors a warning that cryptocurrencies are an unproven asset and highly volatile. He pointed out that it’s the truth, but it’s an incredible technology platform. Noto believes it’s an opportunity to invest in something that’s high risk.