Fintech giant SoFi Technologies reported a 10% quarter-over-quarter increase in crypto transaction revenue for Q2 2026, reaching $134.3 million. After accounting for $133.1 million in transaction costs, net crypto revenue stood at $1.2 million, up from approximately $850,000 in the first quarter. While digital assets remain a small fraction of SoFi’s record $1.2 billion adjusted net revenue (up 43% year-over-year), the company continues to aggressively expand its crypto services.
A major driver was the launch of SoFiUSD, the company’s native dollar-pegged stablecoin, which became available to members in May through its banking app on Ethereum and Solana. SoFiUSD is now used to settle real-time commercial payments via the SoFi Exchange Network, integrated into the new Big Business Banking platform. Institutional clients such as Mastercard, BitGo, Fireblocks, and Wintermute are already using the network. SoFi plans to introduce tokenized deposits backed by FDIC-insured bank deposits, cross-border transfers, and an integration with the Bullish crypto exchange for institutional clients.
The company’s total user base grew 35% to 15.8 million, and its digital asset products exceeded 388,000 active units. SoFi also secured a multi-year sponsorship with Notre Dame Athletics, including a jersey patch deal valued at $18–20 million annually. William Blair analysts maintained an Outperform rating, citing a “product growth inflection point” as products per member rose to 1.54 from 1.46 a year earlier.
