SoFi Says SoFiUSD Settlement Now Live on Q2 Earnings Call

SoFi Technologies, the digital bank with 15.8 million members, said commercial clients have begun settling transactions in real time through its SoFiUSD stablecoin, according to the company's second-quarter results published Wednesday.

The milestone moves SoFiUSD from launch announcement to production payments rail seven months after SoFi became the first nationally chartered U.S. bank to issue a stablecoin on a public blockchain. Big Business Banking, the enterprise product SoFi introduced this year, began processing transactions on the SoFi Exchange Network during the quarter, "enabling commercial clients to move money in real time, 24/7 through SoFiUSD," the company said in the release.

Crypto Transaction Revenue

The quarter also gave the first clean read on the economics of SoFi's crypto relaunch. Crypto transaction revenue came in at $134.3 million for the quarter, but after $133.1 million in costs, net crypto revenue was $1.2 million. SoFi returned to crypto investing with the launch of SoFi Crypto in the fourth quarter of 2025.

SoFi launched SoFiUSD in December, pitching it as settlement infrastructure for other banks, fintechs and enterprise platforms rather than a consumer token. In March, the company said the stablecoin was set to be enabled as a settlement option across Mastercard's global payments network, and it opened SoFiUSD to its full membership in June. Wednesday's disclosure is the first confirmation that enterprise clients are actually settling on the rail.

Record Quarter, Cold Reception

The stablecoin update came inside a record quarter. Adjusted net revenue reached $1.2 billion, up 40% year over year, and net income climbed 61% to $156.6 million, with loan originations hitting a best-ever $14.8 billion. SoFi raised its full-year guidance.

Investors sold the news anyway: SOFI fell about 10% to around $15 in Wednesday morning trading, according to Google Finance data, extending a slide that has the stock roughly 50% below its 2026 highs.