Key Takeaways
- • SoFi reported 503,000 crypto products at the end of Q3 2026, the first quarter the metric appeared in its financial services product breakdown, according to its latest earnings release.
- • Gross crypto transaction revenue reached $161.6 million in the quarter, up 20% from the prior quarter, while net crypto transaction revenue was just $1.6 million after associated costs.
- • SoFi posted record Q3 net revenue of $1.39 billion, up 44% year over year, and net income of $241 million.
- • SoFi Invest products grew 37% year over year to 4.18 million as of September 30.
- • SoFi shares rose nearly 15% on Tuesday morning but remain down 40% year to date.
Summary
SoFi reported 503,000 crypto products at the end of the third quarter, according to its latest earnings release. The fintech company disclosed the metric for the first time within its financial services product breakdown, alongside its SoFi Invest brokerage offering.
The company generated $161.6 million in gross crypto transaction revenue in the quarter, up 20% from the prior quarter. After associated costs, net crypto transaction revenue totaled $1.6 million, a figure that highlights the thin margin between gross volume-driven revenue and net economics in the segment.
The crypto results were reported against a broader quarter of strong growth. SoFi posted record third-quarter net revenue of $1.39 billion, up 44% year over year, and net income of $241 million. SoFi Invest grew 37% year over year to 4.18 million products as of September 30.
CEO Anthony Noto said in the release: "We had exceptional Q3 results against the backdrop of any environment, but they are even more remarkable given how 2026 has unfolded. Our focus is simple. We are adding more members, who are using more products, and generating more revenue per product to create the most value for our shareholders over the long run."
SoFi's shares traded nearly 15% higher on Tuesday morning, though the stock remains down 40% year to date.
SoFi paused its crypto services for two years before eyeing a return in May 2025 amid a more favorable regulatory environment. SoFi Crypto officially launched that November, allowing members to buy and hold dozens of tokens directly from FDIC-insured checking or savings accounts. The company has since expanded into stablecoins, tokenized deposits, and crypto infrastructure.
The company generated $161.6 million in gross crypto transaction revenue in the quarter, up 20% from the prior quarter. After associated costs, net crypto transaction revenue totaled $1.6 million, a figure that highlights the thin margin between gross volume-driven revenue and net economics in the segment.
The crypto results were reported against a broader quarter of strong growth. SoFi posted record third-quarter net revenue of $1.39 billion, up 44% year over year, and net income of $241 million. SoFi Invest grew 37% year over year to 4.18 million products as of September 30.
CEO Anthony Noto said in the release: "We had exceptional Q3 results against the backdrop of any environment, but they are even more remarkable given how 2026 has unfolded. Our focus is simple. We are adding more members, who are using more products, and generating more revenue per product to create the most value for our shareholders over the long run."
SoFi's shares traded nearly 15% higher on Tuesday morning, though the stock remains down 40% year to date.
SoFi paused its crypto services for two years before eyeing a return in May 2025 amid a more favorable regulatory environment. SoFi Crypto officially launched that November, allowing members to buy and hold dozens of tokens directly from FDIC-insured checking or savings accounts. The company has since expanded into stablecoins, tokenized deposits, and crypto infrastructure.
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