Three quarters after returning to crypto, the company reported $1.2 million in net crypto revenue after costs while expanding its SoFiUSD stablecoin, $SOFID.
SoFi’s crypto business is showing early momentum three quarters after its relaunch. In Q2, the company generated $134 million in crypto transaction revenue and recorded $1.2 million in net crypto revenue after costs. The update also said SoFi is expanding SoFiUSD, its stablecoin (token designed to hold a fixed value), which trades under the ticker $SOFID. The figures suggest the company’s renewed push into digital assets is beginning to gain traction, with transaction activity contributing revenue even after associated costs are accounted for.