SoFi Technologies Inc.

SoFi Technologies is working with Orbi and Mastercard on new crypto-linked payment cards in Mexico, with the Orbi program using SoFi Tech Solutions infrastructure to support crypto-to-fiat card spending for Mexican consumers. The partnership plugs SoFi Tech Solutions into issuing, authorization, processing and compliance for the cards, with SoFi providing Mastercard BIN sponsorship and connectivity to the Mexico Domestic Switch. Orbi customers can spend from either fiat or crypto balances, with SoFi's stack handling point-of-sale conversion so merchants are always paid in local currency. The launch creates a potential path for stablecoin-powered remittance products built on SoFi's technology in Latin America, and the company said the Orbi and Mastercard program in Mexico only captures part of what SoFi is building out. A key factor to watch will be whether SoFi Tech Solutions secures additional Latin American card programs or remittance products that also adopt SoFiUSD, especially through Mastercard's network, with multiple issuers going live over the next 12 to 24 months indicating that Orbi is a template rather than a one-off experiment.

The architecture for institutional stablecoins effectively locked into place between October 6 and October 8, 2026, as five distinct infrastructure layers shipped simultaneously to satisfy the requirements of the GENIUS Act. The reserve layer is now a functional duopoly of the JPMorgan JLTXX fund, holding $733.7 million in assets under management, and the BlackRock BSTBL parent fund, backed by a $6.1 billion parent fund, because the GENIUS Act's 40% concentration limit on any single tokenized reserve asset forces issuers to use both. Above the reserves, SAP Pay has been embedded into SAP Cloud ERP, supporting USDC and EURC across 89 corridors and reaching approximately 400,000 customers. The credit layer gained the first-ever stablecoin protocol rating from Moody's, which assigned a B3 rating to the Sky Protocol alongside an S&P B- rating, defining a 0.9% capital ratio and upgrade and downgrade thresholds. On the merchant side, Citi connected its $6 trillion payment network to Coinbase stablecoin rails, covering 150 million cardholders with a 3.75% platform incentive. These layers feed four settlement rails: SoFi and Mastercard, Visa's $20 billion annualized volume, Stripe's expansion across more than 100 countries, and Solana's delivery-versus-payment capabilities. The urgency stems from the January 18, 2027, effective date of the GENIUS Act, with seven federal agencies having failed to meet their July 2026 rulemaking obligations, while a survey by the American Bankers Association and the Conference of State Bank Supervisors found 18% of community banks plan to launch tokenized deposits within 12 months and 60% expect to lose ground to the new stablecoin rails.

SoFi Technologies launched small-business loans in the second quarter of 2026, originating them through its Loan Platform Business rather than its own balance sheet. Management disclosed a three-year, $3 billion agreement with Basepoint Capital plus another partnership worth several hundred million dollars to provide capacity as volumes scale. The platform generated $143.3 million of adjusted net revenues in the second quarter, supported mainly by $3.1 billion of personal loans originated for third parties and referrals, and management expects SMB economics to be similar to or slightly better than existing Loan Platform Business levels. The launch came during a record quarter for lending, with total originations of $14.8 billion, up 69% year over year, including $10.7 billion in personal loans, $2.7 billion in student loans and $1.4 billion in home loans. SoFi shares have fallen 12.2% over the past three months, and the Zacks Consensus Estimate for full-year 2026 EPS was unchanged at 60 cents over the past two months.

Institutional stablecoin settlement moved onto four live production rails within a single month, with stablecoin-linked card spending reaching $1.2 billion in September 2026, roughly triple the year-earlier figure, according to PaymentScan data cited by CoinDesk. SoFi and Mastercard went live on September 22 with SoFiUSD, the first stablecoin issued by a U.S. nationally chartered bank deployed for live card-settlement production, with $25 billion in annualized card volume migrating to blockchain-based settlement on Mastercard's global payments network. Visa is already operating at a $20 billion annualized run rate for stablecoin settlement as of September 8, a 15x increase from $1.3 billion a year earlier and up from $7 billion in April, while Stripe announced October 1 that it is expanding its stablecoin card programs to more than 100 countries by year-end, up from 18. The Solana DvP standard, launched October 5-6 with JPMorgan advisory input, cuts settlement finality from T+2 days to roughly 400 milliseconds and cost from $50-500 to less than one cent, though it launched with no production settlement volumes yet. Separately, the DTCC's tokenization service, supported by a working group of over 50 firms including BlackRock, Goldman Sachs, JPMorgan, and State Street, is planned for October launch, and OKX closed a funding extension at a $25 billion pre-money valuation with backing from Circle, Ripple, Standard Chartered's SC Ventures, and Qube Research.

SoFi Technologies reported second-quarter adjusted net revenue of $1.2 billion, up 40%, with GAAP net income climbing 61% to $156.6 million. Total deposits ended the period at $45.5 billion, and average deposits made up over 90% of average liabilities, with the rate paid on deposits running 156 basis points below warehouse facilities, which the company says equals about $712.6 million of annualized interest expense savings. Cross-buy reached 51% of new products, up from 43% the prior quarter and 35% a year earlier, while fee-based revenue of $472.3 million made up 39% of total revenue. The lending segment brought in $724.8 million of net revenue, up 63%, on record originations of $14.8 billion, though the Technology Platform segment saw revenue fall 23% from a year earlier partly because a large client left. SoFi and Mastercard also announced that stablecoin settlement is live across SoFi Bank's card program, moving its entire $25 billion card program onto SoFiUSD, a stablecoin the bank itself issues. Wells Fargo analyst Cassie Chan rates the stock a Hold, citing valuation and earnings exposure to loan sales, and short interest stands at 14.63% of the float.

SoFi Technologies and Mastercard announced that stablecoin settlement went live across SoFi Bank, N.A.'s debit and credit card program, migrating its entire US$25.00 billion card portfolio to SoFiUSD. SoFiUSD is the first stablecoin issued by a nationally chartered bank on Mastercard's global network, positioning bank-issued stablecoins as an operational bridge between traditional payment rails and blockchain infrastructure. The move connects to SoFi's April 2026 launch of Big Business Banking, which lets enterprises manage fiat and crypto, mint and burn SoFiUSD, and access real time payments in a single bank interface. SoFi's narrative projects $7.7 billion revenue and $1.6 billion earnings by 2029, requiring 21.6% yearly revenue growth and an earnings increase of about $1.0 billion from $636.3 million today, while the most pessimistic analysts saw SoFi reaching only about US$6.0 billion revenue and US$1.0 billion earnings by 2029.

SoFi Technologies has begun migrating its full debit and credit card program to stablecoin settlement using SoFiUSD across Mastercard's network, a live card program expected to handle more than $25 billion in annualized volume. SoFi Bank has already moved transactions onto blockchain rails, and merchants do not need to hold stablecoins or build new infrastructure to participate. Payward will join the SoFi Exchange Network, list SoFiUSD on Kraken and use SoFi's Big Business Banking capabilities, while SoFi will use Kraken Prime for digital-asset liquidity. In the second quarter, management said roughly $300 million of SoFiUSD was in circulation, and second-quarter adjusted net revenues rose 40% year over year to $1.2 billion, with adjusted EBITDA of $358 million at a 30% margin and fee-based revenues of $472 million. Management lifted 2026 adjusted net revenue guidance to $4.75 billion-$4.85 billion while maintaining about $1.6 billion of adjusted EBITDA, and consensus estimates point to 2026 and 2027 EPS increases of 53.85% and 35.91%, respectively. SoFi shares have fallen 36.7% year to date as of Sept. 25, 2026, compared with a 5.7% decline for PayPal and a 17.4% gain for Block, and SOFI trades at a forward 12-month price-to-sales multiple of 3.83X versus 1.32X for PayPal and 1.63X for Block; SOFI carries a Zacks Rank #3 (Hold).

Mastercard has begun settling SoFi Bank card transactions using SoFiUSD, putting a bank-issued stablecoin to work inside an operating card program. SoFi says the program is expected to handle more than $25 billion in annualized card volume, a figure that represents the size of the card program rather than a reported total for stablecoin transactions or new Mastercard revenue. Merchants can receive funds without holding tokens or building blockchain systems, which the companies say improves the arrangement's chances of fitting into everyday payments. Mastercard shares held flat at $565.21 at 11.38am ET on Friday, leaving the stock 17.49% below its $685 GF Value estimate. The company's opportunity lies in keeping its network central as the asset used for settlement changes, with proof to come from faster or cheaper settlement, wider adoption and eventually measurable revenue.

SoFi has begun settling debit and credit card transactions across Mastercard's network using SoFi USD, its own stablecoin, in what the companies describe as live blockchain settlement rather than a pilot. SoFi is migrating its entire credit card program, which is expected to process more than $25 billion in annualized volume, onto the arrangement. Under the setup, consumers use a normal credit card without needing to hold crypto or know that blockchain is involved, while merchants are paid as usual, receiving funds in their SoFi bank account and converting them to dollars with round-the-clock access. The settlement itself runs entirely on blockchain stablecoin rails in the background, with the blockchain component invisible to both cardholders and merchants. The development was discussed by Scott Melker on "The Daily Wolf with Scott Melker," which airs daily at 12:00 p.m.

Bitcoin ETFs took in $1.7 billion in inflows over a strong two-day run, with $714.7 million arriving on Tuesday after Monday's roughly $1 billion haul, the ninth biggest inflow day ever, bringing the four-day streak to about $2.3 billion. In the stablecoin world, Mastercard and SoFi have teamed up on stablecoin settlement for cards, with SoFi now settling debit and credit card transactions across Mastercard's network using SoFi USD and migrating its entire credit card program, which is expected to process more than $25 billion in annualized volume. Binance has invested $100 million into Circle, buying shares at a 5% discount on a vesting schedule, and signed a new five-year commercial agreement to promote USDC on its platform. Binance is also under US scrutiny over possible Iran sanctions violations, according to Bloomberg News. BitMEX, the exchange that invented the perpetual swap, has now closed.

SoFi Technologies reported record second-quarter 2026 results, with loan originations rising 69% year over year and 51% of new products opened by existing members. Management called the quarter an inflection point, citing fee-based revenue growth and a member count of 15.8 million, as the company leans on its bank charter to fund loans with its own deposits. The narrative projects $7.7 billion in revenue and $1.6 billion in earnings by 2029, requiring 21.6% yearly revenue growth and roughly a $1.0 billion increase from $636.3 million today, yielding a $20.34 fair value and 20% upside. Some of the lowest-ranked analysts expect revenue of about US$6.0 billion and earnings around US$1.0 billion by 2029, arguing the stock deserves a lower multiple and warning that persistent high rates could keep loan demand under pressure. Investors are also watching rising net charge offs and higher rates as risks to SoFi's lending growth.

SoFi Technologies is the only one of the three major fintech lenders — SoFi, Upstart, and Affirm — that currently holds a full bank charter, giving it an internal deposit base to fund loans while its rivals still rely on third-party bank partners. SoFi obtained its charter on Jan. 18, 2022, by acquiring the small California bank Golden Pacific and applying through it, and has since grown deposits from $1.2 billion in first-quarter 2022 to $45.5 billion in second-quarter 2026, with members rising from 3.9 million to 15.8 million and products from 5.9 million to 24.4 million over the same period. The company swung from a net loss of $110 million, or -$0.14 per share, four years ago to net income of $156 million, or $0.12 per share, in Q2 2026. Upstart received conditional approval for a national bank charter in July and is expected to get final approval in early 2027, while buy now, pay later provider Affirm applied for an industrial loan bank charter in January and has not yet been granted any approvals. SoFi stock is down about 36% year to date and trades at 34 times earnings and 21 times forward earnings, after returns of 116% in 2023, 54% in 2024, and 70% in 2025.

SoFi Technologies said 51% of new products opened in the second quarter of 2026 came from existing members, up from 43% in the prior quarter and 35% a year earlier. The company added 1.1 million members in the quarter, lifting total members to 15.8 million, up 35% year over year, while product additions reached a record 2.2 million, pushing total products to 24.4 million, up 42%. Products per member rose to an all-time high of 1.54 from 1.51 in the first quarter, and SoFi Plus surpassed 200,000 paid subscribers after its relaunch, with 25% of existing members who signed up adding another product. Financial Services products reached 21.3 million, up 43% year over year and 87% of total products, while fee-based revenues climbed to $472.3 million, or 39% of total revenues, and annualized spending across SoFi Money and Credit Card hit $28 billion, helping interchange revenues rise 55% year over year. SoFi shares have declined 1.7% over the past six months, and the stock trades at a forward price-to-earnings ratio of 22.36X versus the industry's 15.56X, with the Zacks Consensus Estimate for full-year 2026 EPS gaining a cent to 60 cents over the past two months.

SoFi Technologies Inc. is trending after announcing a strategic partnership with Payward on Thursday, connecting SoFi's banking infrastructure with Kraken's digital asset markets, and shares traded higher on the news. Under the agreement, Payward will join the SoFi Exchange Network and list SoFiUSD, SoFi's bank-issued stablecoin, on Kraken, while SoFi will use Kraken Prime as an additional source of digital asset liquidity for trades made by SoFi members within its app. By joining SEN, SoFi's real-time settlement network, Kraken's institutional clients gain the ability to clear and settle U.S. dollar transactions around the clock, extending settlement beyond traditional banking hours. SoFi CEO Anthony Noto emphasized that the financial system should not shut down when markets stay open, and the partnership builds on SoFi's Big Business Banking offering launched in April. The listing of SoFiUSD on Kraken expands access to the stablecoin for millions of retail, professional, and institutional clients, while SoFi members stand to benefit from better pricing on crypto trades through Kraken Prime's liquidity.

SoFi Technologies is betting that customers will pay for more value inside its financial services app, and the initial numbers for SoFi Plus are encouraging. After relaunching the premium membership in the second quarter of 2026, SoFi ended the period with 206,000 paid subscribers, signaling solid early demand. Most of these subscribers are existing members, with about 85% already using SoFi, and the subscription is designed to increase awareness and use of other products. Early signs show the strategy is working: 25% of existing members who joined SoFi Plus added another product afterwards, with SoFi Invest benefiting the most, and SoFi Plus generated more than $24 million in annualized revenues after its first quarter. The opportunity lies within a fast-growing customer base, as SoFi added a record 1.1 million members during the quarter, taking total membership to 15.8 million, and added 2.2 million products while cross-buy reached 51%. Management now wants SoFi Plus to expand significantly, with CEO Anthony Noto saying he would be disappointed if membership does not reach one million within a year, which would imply about $120 million in annual revenues. Meanwhile, competitors are also growing: Robinhood Markets expanded into banking and international markets, reaching a record 28.4 million funded customers, and Chime Financial deepened its primary-account relationship, with Active Members rising 20% year over year to 10.4 million. SoFi shares have gained 13.9% in the past three months, and the stock trades at a forward price-to-earnings ratio of 25.41X, above the industry's 17.02X, with a Value Score of F. The Zacks Consensus Estimate for full-year 2026 EPS gained a cent to 60 cents over the past month, and the stock carries a Zacks Rank #3 (Hold).

SoFi Technologies has begun settling its trading business in SoFiUSD and processing transactions for Big Business Banking clients on the SoFi Exchange Network. SoFiUSD is backed by cash at the Federal Reserve and is described as the first stablecoin issued by a nationally chartered bank on a public, permissionless blockchain. Roughly $300 million of SoFiUSD was in circulation at the end of the second quarter of 2026. Fee-based revenues reached $472 million, or 39% of adjusted net revenues, up 22% from the prior quarter, while Financial Services and Technology Platform revenues together accounted for about $551 million, or 46% of adjusted net revenues. Management expects Financial Services and Technology Platform revenues to exceed 50% of total revenues over time.

Alibaba shares rose 1.5% premarket after Reuters reported the company is set to sell its Lingxi Games business to private equity firm Trustar Capital for more than $2 billion. Memory chipmakers gained after U.S. Commerce Secretary Howard Lutnick told the Wall Street Journal the Trump administration opposes Apple buying Chinese memory chips, with Sandisk up nearly 5% and Western Digital and Micron Technology up more than 3%. Intel added about 1.5% after CEO Lip-Bu Tan purchased more than 105,000 shares at $95 each, according to an SEC filing. SoFi Technologies rose 2% after Piper Sandler initiated coverage with an overweight rating, and Okta gained 1% after Wells Fargo upgraded the stock to overweight from equal-weight.

SoFi Technologies reported second-quarter revenue of $1.21 billion, up 40.5% year over year and beating analyst expectations by 7.1%, making it the best performer among seven personal loan stocks tracked. The group as a whole exceeded consensus revenue estimates by 4.2%, with shares up 1.9% on average since reporting. Sezzle posted the biggest estimate beat with revenue of $149.7 million, up 51.7% year over year, but its stock fell 27.3% after results. OneMain Holdings, the weakest performer, reported revenue of $1.29 billion, up 6.9% year over year, while Happen Bank and FirstCash also beat or met expectations.

SoFi Technologies has introduced three new private market funds for SoFi Invest members through partnerships with CAZ Investments and AngelList Asset Management. The funds provide access to private market opportunities including exposure to sectors such as AI, fintech, healthcare, and defense, with lower minimum investment requirements and liquidity features compared with many traditional private market products. The new offerings sit alongside SoFi Invest's existing brokerage and investing tools, extending access to assets usually harder for individual investors to reach. SoFi's push to deepen engagement with its 13.7 million members is supported by the expansion from a pure lending platform to a broader investment and wealth offering. Investors will watch the next earnings release after August 2026 to see whether private markets are becoming a meaningful slice of SoFi Invest activity.

SoFi Technologies originated a record $10.7 billion in personal loans in the second quarter, up 69% year over year, as part of $14.8 billion in total loan originations. As of June 30, SoFi's balance sheet held $28 billion in personal loans, representing 57% of the total lending book, with $27.6 billion, or 100%, of those personal loans categorized as held for sale. Chief Financial Officer Chris Lapointe said on the Q2 2026 earnings call that $7.6 billion of the $10.7 billion in personal loans was originated for the balance sheet, while the rest was sold via the loan platform segment to third-party investors. The net charge-off rate for personal loans was 3.7% in Q2, down from 4.5% a year earlier, and the company added 1.1 million net new customers to reach 15.8 million members. SoFi reported 43% year-over-year revenue growth and a 61% increase in net income compared to Q2 2025.

SoFi Technologies reported second-quarter revenue of $1.21 billion, beating analyst estimates by 7.1% and rising 40.5% year on year, while adjusted earnings per share of $0.12 exceeded consensus by 9.9%. The company added a record 1.1 million new members and saw the percentage of new products purchased by existing members climb to 51% from 35% a year ago, driven by its SoFi Plus premium subscription and other digital offerings. Adjusted EBITDA reached $357.8 million, representing a 29.7% margin and a 7.3% beat, and the operating margin improved to 16.9% from 13.1% in the prior-year quarter. Management plans to reinvest incremental revenue into new growth opportunities such as SoFi Coach, expanded business banking, and small business lending, maintaining its current EBITDA guidance despite the strong results. Fee-based revenue streams grew 38% year over year, and the Technology Platform segment is scaling through acquisitions and new commercial offerings to target more enterprise clients.

SoFi Technologies shares have dropped 41.75% year to date in 2026, yet the company posted record Q2 loan originations of $14.8 billion and GAAP net income of $156.59 million, up 61% year over year. A five-year bull case targets $49.31 by July 30, 2031, implying a 227.9% gain from the current $15.25 price, contingent on sustaining 30%-plus member growth, delivering on a guided 38% to 42% adjusted EPS compound annual growth rate through 2028, and stabilizing the Technology Platform segment which fell 23% year over year after a large client departure. Wall Street consensus is split with a $20.63 average target and only 33% of analysts rating the stock a buy, while the base case estimate stands at $20.14. Key risks include a potential credit cycle turn that could spike charge-offs and recent net insider selling across 80 transactions.

SoFi posted record quarterly revenue and raised its full-year sales outlook. CEO Anthony Noto told Bloomberg Tech that the company is keeping its earnings guidance unchanged, citing AI-driven gains in engineering productivity and customer service. Noto said SoFi will continue investing for long-term growth even as interest-rate expectations shift.

BlackRock, Fidelity, Franklin Templeton, Goldman Sachs, and SoFi are publicly backing the Clarity Act, a crypto market structure bill, with only about a week and a half left before the Senate recess begins on August 8th. The asset managers are supporting the legislation while banks led by Jamie Dimon and JPMorgan oppose it, creating a major divide on Wall Street. The firms backing the bill seek regulatory clarity on jurisdiction between the SEC and CFTC, investor protections, and rules for a competitive American market. Separately, Morgan Stanley launched Ethereum and Solana exchange-traded products with fees of .14%, or 14 bips, and plans to pass staking rewards back to investors. Core Scientific signed a 15-year agreement with AMD for approximately 530 megawatts across five states, representing more than 14 billion in potential contracted revenue, as the company shifts focus from Bitcoin mining to AI data centers.

SoFi Technologies is expected to report a year-over-year increase in earnings when it releases results for the quarter ended June 2026 on July 29. The Zacks Consensus Estimate calls for earnings of $0.11 per share, up 37.5% from the prior year, on revenues of $1.11 billion, a 29.7% increase. The Most Accurate Estimate is above the consensus, yielding an Earnings ESP of +2.59%, which combined with a Zacks Rank of #3 indicates the company will most likely beat the consensus EPS estimate. Over the last four quarters, SoFi Technologies has surpassed consensus EPS estimates three times.

Three U.S.-listed stocks trading below $50—SoFi Technologies, Nu Holdings, and Pinterest—are highlighted for their double-digit revenue growth and constructive Wall Street consensus. SoFi Technologies posted record loan originations of $12.18 billion, up 68%, with Q1 2026 revenue of $1.10 billion and GAAP net income more than doubling to $166.7 million. Nu Holdings grew revenue 58% to $4.97 billion, serving 135 million customers across Latin America, and trades at a forward P/E of 19. Pinterest beat Q1 EPS estimates by 25% with revenue of $1.01 billion, 631 million global monthly active users, and a forward P/E of 13 against mid-teens revenue growth.

SoFi Technologies and Tidal Investments launched the SoFi Social 50 Income ETF in early July 2026, an actively managed fund that applies an options-based income strategy to the 50 most-held U.S. stocks in SoFi Invest self-directed accounts, with an expense ratio of 0.73%. The ETF packages covered calls and call spreads into a single vehicle, lowering capital and operational hurdles for investors seeking options-based income exposure. The launch strengthens SoFi's investing ecosystem but is unlikely to move near-term results as much as upcoming Q2 earnings, where financial services growth and credit performance remain key catalysts and risks. Alongside the ETF, SoFi's recent introduction of SoFiUSD, a bank-issued stablecoin integrated with Mastercard for settlement, underscores a push into AI and blockchain-powered services that could deepen engagement and add fee income. Some analysts project SoFi could reach approximately $8.7 billion in revenue and $1.9 billion in earnings by 2029 under aggressive adoption scenarios, though such forecasts reflect a much more bullish view than consensus.

SoFi Technologies has grown its membership 183% over three and a half years to 14.7 million as of March 31, underscoring that its customer growth story remains intact. The digital-only fintech, which trades 42% below its peak, was named the number one U.S. bank by Forbes in its World's Best Banks ranking, according to CEO Anthony Noto. SoFi's deposit base has ballooned almost 300% in the past three years to $40.2 billion, aided by a 3.1% annual percentage yield on savings and expanded FDIC insurance up to $3 million. Leadership projects adjusted net revenue will grow at an annualized rate of 30% from 2025 to 2028, driven by new customer additions and cross-selling opportunities.

SoFi Technologies has emerged as an ideal fintech takeover target with 14.7 million members, a national bank charter, over $40 billion in member deposits, and the Galileo platform servicing about 133 million global accounts, all at a sub-$23 billion market cap. Mastercard is seen as the cleanest strategic buyer given its existing payments partnership with SoFi and ample capacity with $7.91 billion in cash and $11.7 billion in buyback authorization, though owning a chartered bank remains a hurdle. JPMorgan Chase and Bank of America both approach the 10% nationwide deposit cap, creating a regulatory wall that effectively blocks either from acquiring SoFi. PayPal has strategic logic but faces a weak financial case with a $41.8 billion market cap and only $13.5 billion in cash, while private equity is constrained by Bank Holding Company Act rules. CEO Anthony Noto's aggressive share purchases near $18 signal management is not selling, with roughly $5 billion in fiscal 2026 revenue guidance driving the real takeout math.