SoFi posts record Q4 revenue after reentering crypto market
SoFi reported record Q4 revenue of $1.0 billion, up ~37% year‑over‑year, driven by fee‑based products and the firm’s reintroduction of consumer crypto services. GAAP net income was $173.5 million and adjusted EBITDA rose 60% to $317.6 million. Fee revenue hit a record $443 million. Total members climbed ~35% to 13.7 million and financial products held increased 38% to 17.5 million, with 1.6 million new products added in the quarter. After relaunching crypto trading on Dec. 22, SoFi recorded 63,441 crypto products between Dec. 22–31. The company also launched SoFiUSD, a US dollar‑backed stablecoin issued by SoFi Bank, and expanded blockchain‑powered remittances to 30+ countries. The results are framed within broader banking interest in crypto services, with mentions of major banks and Coinbase executives noting rising institutional focus. Key SEO keywords: SoFi, crypto trading, stablecoin, SoFiUSD, Q4 revenue, fintech.
Bullish
The news is bullish for the cryptocurrencies directly referenced by SoFi’s actions (notably the ecosystem around US dollar‑pegged stablecoins and assets supported on SoFi’s trading rails) for several reasons. Short term: renewed consumer access to crypto trading on a large national bank and the immediate onboarding figures (63,441 crypto products in nine days) can increase retail demand and trading volume, lifting price momentum for supported assets and stablecoin utility. The launch of SoFiUSD increases stablecoin supply and on‑ramp options; markets typically view new regulated stablecoin issuance as supportive for crypto liquidity and trading activity. Medium/long term: broader distribution via a large fintech bank and remittance integrations into 30+ countries should expand recurrent use cases (payments, remittances, on‑ramps), encouraging persistent demand and greater fiat‑crypto flows. The improved profitability and fee revenue demonstrate viable commercial incentives for further product rollouts, which could sustain adoption. Risks that temper the bullish view include regulatory scrutiny of stablecoins, potential dilution effects if SoFiUSD issuance is large, and the fact that short‑term figures (Dec. 22–31) are a narrow sample. Overall, the announcement is likely to be net supportive for prices and liquidity of supported crypto assets and the stablecoin market.