SoFi Launches Bank-Issued SoFiUSD Stablecoin
Jun 3, 2026 (6 hr ago)
Neutral
SoFi has officially launched SoFiUSD, a bank-issued U.S. dollar stablecoin, marking a significant expansion of its digital asset offerings and integration of blockchain technology into its banking platform.
SoFiUSD Stablecoin Launch
Financial Performance and Growth
- SoFi reported Q1 2026 net income of $166.7 million, with diluted earnings per share of $0.12.1, 2, 3
- Adjusted net revenue increased 41% year-over-year, while the lending business saw a 55% revenue increase during the same period.3
- The company added 1.1 million new members in the recent period, bringing the total membership base to 14.7 million.3
- Despite revenue growth, the company remains in a 'spend to grow' phase, reporting negative operating and free cash flow of approximately $2.38 billion.1, 2
Regulatory and Legal Scrutiny
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