SoFi crypto transaction revenue grows 10% to $134 million in Q2

SoFi's crypto transaction revenue grew 10% quarter over quarter in Q2 as the fintech continued to expand its digital asset business, while its new SoFiUSD stablecoin began facilitating real-time commercial payments through the company's enterprise banking platform.

The company generated $134.3 million in crypto transaction revenue during the quarter, resulting in $1.2 million in net revenue after accounting for $133.1 million in transaction costs, up from roughly $850,000 in the first quarter.

Despite crypto being a small contributor to SoFi's record $1.2 billion in quarterly adjusted net revenue, the company has continued adding digital asset capabilities since relaunching its crypto trading and investing services in late 2025.

SoFi also continued building out its stablecoin product. During the quarter, the company's Big Business Banking platform began processing transactions on the SoFi Exchange Network, allowing commercial clients to move money around the clock through SoFiUSD.

SoFiUSD growth

In May, the company rolled out SoFiUSD to members through its banking app, allowing users to buy, sell, hold and convert the dollar-pegged stablecoin on Ethereum and Solana. SoFi has also outlined 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.

In a Wednesday research note, William Blair analysts reiterated their Outperform rating on SoFi's stock and said the newer offerings are helping accelerate product adoption alongside SoFi Plus, which they described as a key driver of engagement and monetization.

They added that SoFi has reached a "product growth inflection point," pointing to its products per member increasing to 1.54 from 1.46 a year earlier.

Separately, SoFi on Tuesday announced a multi-year partnership with Notre Dame Athletics, establishing a $1.4 million annual fund for student-athlete scholarships, financial education and career development while becoming the first brand to appear on Fighting Irish jerseys. According to The Athletic, the jersey patch agreement is worth between $18 million and $20 million annually, making it one of the richest sponsorships in college sports.