SoFi Technologies shares climbed 15.08%, reaching $16.64 as investors assessed the company’s expanding cryptocurrency business and record quarterly results. The fintech firm disclosed 503,000 crypto products for the first time in its third-quarter earnings report. Additionally, gross crypto transaction revenue reached $161.6 million, marking a 20% increase from the previous quarter.
Crypto Expansion Supports SoFi’s Growth Strategy
However, SoFi retained only $1.6 million in net crypto transaction revenue after associated costs. This gap highlights the importance of examining profitability alongside growing transaction activity.
Moreover, the company’s broader investment business continues to expand. SoFi Invest recorded 4.18 million products by September 30, representing 37% annual growth. Consequently, cryptocurrency now forms part of a wider strategy to attract customers through multiple financial services.
SoFi Broadens Its Digital Asset Services
SoFi reported $1.39 billion in third-quarter net revenue, up 44% year over year. Net income reached $241 million, reinforcing the company’s financial momentum.
Besides crypto trading, SoFi has expanded into stablecoin settlement, tokenized deposits, and cryptocurrency infrastructure. The company resumed its crypto ambitions in 2025 after pausing services for two years.
Related: Bitcoin Faces Liquidity Risk at $78K Ahead of a Key Fed Rate Decision
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