SoFi crypto transaction revenue rises 10% to $134M in Q2 as fintech giant doubles down on digital assets

SoFi Technologies just reported Q2 2026 earnings, and buried inside a very good quarter for the neobank is a number that crypto watchers should pay attention to: $134 million in crypto transaction revenue, up 10% from the prior period.

That figure is still a modest slice of SoFi’s $1.2 billion in adjusted net revenue for the quarter. But the company isn’t treating crypto as a side hustle anymore. It’s building infrastructure around it.

The numbers behind the quarter

SoFi’s overall adjusted net revenue hit $1.2 billion, a 40% jump year-over-year. The company added a record 2.2 million new products in the quarter, and total members climbed to 15.8 million, representing 35% growth compared to the same period last year.

Product offerings across the platform swelled to 24.4 million, up 42% year-over-year. Those are the kind of engagement metrics that suggest SoFi’s cross-selling machine, what CEO Anthony Noto calls the “Financial Services Productivity Loop,” is working as designed.

SoFi Crypto now offers over 388,000 products available for transactions, giving users access to a broad range of digital assets inside an app that also handles their checking account, student loans, and investment portfolio.

SoFiUSD and the stablecoin play

SoFiUSD, the company’s bank-issued stablecoin that launched in December 2025, began facilitating internal trading settlements during Q2 2026. The stablecoin runs on the Ethereum blockchain and carries a distinction that most crypto-native stablecoins can’t claim: it’s regulated by the OCC and FDIC-insured.

The stablecoin also powers the SoFi Exchange Network, enabling real-time payments.

Big Business Banking enters the picture

SoFi also launched Big Business Banking during Q2 2026, a new enterprise-focused offering that integrates both fiat and crypto services for institutional clients. The early adopter list includes Mastercard and BitGo.

Mastercard’s involvement is particularly notable. The payments giant has been steadily expanding its crypto and blockchain partnerships, and choosing SoFi as a banking partner signals confidence in the neobank’s ability to serve large-scale clients at the intersection of traditional finance and digital assets.

BitGo, a major institutional crypto custodian, brings a different kind of credibility. Its participation suggests that SoFi’s enterprise banking product has enough crypto-native functionality to attract firms that live and breathe digital assets every day.

What this means for investors

$134 million in crypto revenue against $1.2 billion in total adjusted net revenue means crypto accounts for roughly 11% of SoFi’s top line. SoFi is one of the only publicly traded US banks that holds a national banking charter, offers crypto trading, has issued its own stablecoin, and is now courting enterprise clients with hybrid fiat-crypto services.

The 40% year-over-year revenue growth and 35% membership growth show that SoFi’s broader business is accelerating. Crypto is growing alongside it, but at a slower clip of 10%.

If crypto transaction revenue is primarily driven by retail trading volume, it remains tethered to market cycles. The stablecoin and enterprise banking moves are designed to diversify away from that cyclicality, creating revenue streams that persist regardless of Bitcoin price swings.

With 15.8 million members, a growing crypto business, a regulated stablecoin in production, and Mastercard signing up for its enterprise banking product, SoFi is backing Noto’s “everything app” narrative with results that are hard to dismiss.

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