Bitcoin Magazine

SoFi Stock (SOFI) Soars 15% on Record Quarter, Crypto Reaches 503,000 Products

SoFi Technologies reported record third-quarter 2026 results earlier Tuesday, and its crypto business reached 503,070 products by quarter-end. At the time of writing, SoFi shares were up 14.59% on the day at $16.56. 

The lender raised full-year guidance at the same time. SoFi returned to crypto investing in the fourth quarter of 2025, when it became the first U.S. nationally chartered bank to offer retail crypto trading.

That said, crypto remains a small line in the results. Crypto transaction revenue totaled $161.6 million in the quarter, but the cost of that revenue reached $160.0 million. Net crypto transaction revenue was $1.6 million, equal to 0.1% of total net revenue. 

SoFi earns a fee on each buy and sell order, while the bulk of gross volume flows through as cost. For the first nine months of 2026, net crypto transaction revenue totaled $3.7 million on $417.5 million in gross revenue.

Per the company, member trading picked up in September. Members placed 218,469 trades, a 14% increase from August’s 191,359. Buy trades rose 18% to 133,937, and sell trades rose 8% to 84,532. Buy volume reached $33.8 million, and sell volume reached $39.1 million. 

Members placed 25 trades of $100,000 or more. Bitcoin led trading volume with a 39% share. New traders drove much of the activity. 44% of September traders made their first-ever trade that month, 20% had traded before but not in August, and 36% traded in both months.

SoFi Crypto skews younger. 43% of members are millennials, the company said, born between 1981 and 1996, and the median member age is 36. On the stablecoin side, SoFi became the first national bank to go live with stablecoin settlement across Mastercard’s global payments network. 

SoFi’s monster quarter

Outside of crypto and broadly speaking, SoFi beat Wall Street expectations for the third quarter of this year. The company earned $0.18 per share on an adjusted basis, topping the Zacks Consensus Estimate of $0.17 and rising from $0.11 a year earlier. Revenue reached $1.37 billion, 9.08% above consensus and up from $949.63 million a year ago. 

SoFi has beaten consensus EPS estimates three times over the last four quarters and topped revenue estimates in all four. Shares have fallen 44.8% this year, while the S&P 500 gained 12.1%. 

Zacks currently rates the stock Rank #3 (Hold), which signals performance in line with the market. Analysts expect $0.20 per share on $1.32 billion in revenue next quarter and $0.60 per share on $4.87 billion for the full year. 

Founded as a student loan refinancing startup, SoFi has evolved into a full-scale financial services platform offering products ranging from IPO investing to credit cards and high-yield savings accounts. SoFi has a market cap of $21.5 billion. 

This post SoFi Stock (SOFI) Soars 15% on Record Quarter, Crypto Reaches 503,000 Products first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

TL;DR: SoFi says its new SOFIE tokenized deposit represents money held at SoFi Bank, advertises 4.40% APY subject to terms, and can convert to SoFiUSD for blockchain transfers.

SoFi is offering consumers a new way to hold a dollar balance that earns bank-deposit interest while remaining a short step away from on-chain transfers. Its latest product, SoFi Earn, introduces a tokenized deposit called SOFIE and a conversion route into its SoFiUSD stablecoin.

In Thursday's announcement, the company says each SOFIE represents one dollar on deposit at SoFi Bank. It advertises a 4.40% annual percentage yield, subject to the product's eligibility requirements and changing rate terms, and says eligible underlying deposits carry federal deposit insurance within applicable FDIC limits.

Two forms of digital dollars with different protections

The distinction between SOFIE and SoFiUSD is the point of the design. SOFIE is presented as a tokenized claim on a bank deposit. When customers want to buy crypto or send money over blockchain rails, they can convert SOFIE into SoFiUSD at a one-to-one ratio.

That conversion may look seamless in an app, but the instruments should not be treated as legally identical. Deposit insurance applies under the conditions described for bank deposits; it does not automatically attach to every token, wallet or transaction on a public blockchain.

SoFi is pitching convenience to consumers who might otherwise keep idle dollars in a non-interest-bearing wallet while waiting for an investment or payment opportunity. By connecting the savings-style balance to stablecoin infrastructure, it hopes to reduce the awkward transfer between conventional banking and crypto accounts.

The economics behind the product

Stablecoins have become widely used settlement instruments, but interest-bearing versions face a different set of regulatory and product-design questions. A bank deposit generates interest because the institution can use funding within banking rules; a freely circulating payment token does not necessarily carry the same rights.

For customers, the practical details will matter more than the branding: how quickly deposits are redeemable, whether withdrawals are subject to limits, what conditions determine the advertised APY and how much of a transfer remains reversible once it has moved on-chain.

The offer also creates an interesting competitive question for crypto exchanges. If a user can earn on dollars while keeping a convenient path into digital assets, some balances that would have sat on trading platforms might remain inside a regulated banking product instead.

SoFi's launch does not settle the broader debate over stablecoin yields. It does show how one U.S. financial-technology bank is trying to separate the interest-bearing deposit from the token used to move value.

Source: investors.sofi.com original announcement or data.

Related Reading: stablecoins; tokenized assets; crypto custody.

Written by the News Desk and edited by Samuel Rae.