SoFi reported $134 million in crypto trading revenue for the second quarter, up 10% from the prior quarter. After subtracting $133 million in transaction costs, net revenue from the segment came to $1.2 million, above roughly $850,000 in the first quarter. The company said crypto remained a small part of its $1.2 billion in adjusted net revenue for the period. During the same quarter, SoFi’s enterprise banking platform began processing round-the-clock commercial payments through SoFiUSD. The stablecoin is now available to users of the bank app and supports buying, holding and exchanging on Ethereum and Solana.
SoFi reported $134 million in crypto trading revenue in the second quarter, a 10% increase from the previous quarter. After $133 million in transaction costs, net revenue from the business came to $1.2 million, up from about $850,000 in the first quarter.
Crypto made up a relatively small share of SoFi’s $1.2 billion in adjusted net revenue for the quarter.
In the same period, SoFi’s enterprise banking platform started handling 24/7 commercial payments through SoFiUSD. The stablecoin is now available to bank app users and supports buying, holding and exchanging on Ethereum and Solana.
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