SoFi reports 503,000 crypto products as gross crypto revenue reaches $161.6 million
SoFi discloses crypto holdings in Q3 earnings for the first time
SoFi said in its third-quarter earnings that it held 503,000 crypto products at the end of September. The figure appeared in the company's earnings report for the first time, and the release also showed gross crypto transaction revenue of $161.6 million for the quarter.
Gross revenue rose 20% from the prior quarter. But after SoFi counted the costs tied to those crypto products, net crypto transaction revenue came in at just $1.6 million.
Numbers behind the crypto push
- 503,000 crypto products held at the end of Q3 2026
- $161.6 million in gross crypto transaction revenue for the quarter
- 20% increase in gross crypto revenue from the previous quarter
- $1.6 million in net crypto transaction revenue after costs
- Record third-quarter net revenue of $1.39 billion, up 44% year over year
- Net income of $241 million for the quarter
- SoFi Invest brokerage grew 37% year over year to 4.18 million products
What the company said
SoFi CEO Anthony Noto said the third-quarter results were strong. In the earnings release, he noted the company was adding more members, more members were using more products, and the company was generating more revenue per product.
The news moved SoFi's stock. Shares rose nearly 15% on Tuesday morning. The company also raised its full-year guidance.
Why this crypto return matters
SoFi paused its crypto services for two years before looking to return in May 2025. It said the change came amid a more favorable regulatory environment. SoFi Crypto officially launched that November, letting members buy and hold dozens of tokens from FDIC-insured checking or savings accounts.
The company has expanded further since then, including a stablecoin settlement program on the Mastercard network expected to exceed $25 billion in annualized volume, an interest-bearing FDIC-insured tokenized deposit for crypto users, and a partnership to link its banking network with Kraken infrastructure.
What remains unclear
The earnings release did not break out what portion of the 503,000 crypto products belongs to which tokens, so the exact mix is unknown. SoFi shares are still down 40% year to date, even after the 15% move on the earnings day. No specific next step or timeline for new crypto products was announced.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
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