Lending fintech Social Finance (SoFi) said Thursday it will go public through a merger with a special purpose acquisition company.
- The online lending platform, which has a digital asset trading subsidiary, agreed to merge with venture capital backer Chamath Palihapitiya's Social Capital Hedosophia Holdings Corp.
- The deal values SoFi at $8.65 billion, according to a press release.
- SoFi recently secured conditional approval for a national bank charter from U.S. banking regulators.
Disclosure
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.