SoFi Crypto Revenue Hits $134M in Q2, Stablecoin Goes Commercial
SOFI is trading near its 52-week low of $14.01 (9.5% above the low).
Summary
SoFi's crypto transaction revenue grew 10% sequentially to $134.3 million in Q2, generating $1.2 million in net revenue after costs. While still a small slice of the record $1.2 billion total adjusted revenue, the growth signals traction in digital assets. The SoFiUSD stablecoin moved beyond consumer app testing to real-time commercial payments through the Big Business Banking platform, marking a tangible step toward enterprise utility. This follows the May stablecoin launch on Solana and Ethereum, and the recent Composer AI acquisition, reinforcing SoFi's push into crypto infrastructure. William Blair analysts see a product adoption inflection point, with products per member rising to 1.54. The stablecoin's commercial activation and rising crypto revenue add a new growth vector to the strong Q2 earnings beat and raised guidance reported earlier today.
At the time of this announcement, SOFI was trading at $15.34 on NASDAQ in the Finance sector, with a market capitalization of approximately $19.7B. The 52-week trading range was $14.01 to $32.73. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: The Block.