SoFi Technologies, Inc (SOFI) just did something no other U.S. bank has managed: it launched a stablecoin. On Thursday, the company unveiled SoFiUSD, a fully reserved dollar-backed stablecoin issued directly by SoFi Bank, N.A. This isn't just another crypto experiment—it's positioning SoFi as stablecoin infrastructure for banks, fintechs, and enterprise platforms that want to move money faster without the usual banking bottlenecks.
The pitch is straightforward. Partners can tap into SoFi's bank-grade infrastructure to transfer funds more efficiently, and because SoFiUSD runs on a public, permissionless blockchain, transactions happen 24/7 with near-instant settlement at minimal cost. Think of it as giving traditional finance players access to crypto rails without having to build everything themselves.
Why This Matters for Banks and Fintechs
As the first national bank offering open access to a stablecoin and the infrastructure behind it, SoFi brings something crucial to the table: regulatory oversight and reliability. Companies integrating stablecoin products get the speed and transparency of blockchain technology with the comfort of dealing with a regulated bank. That's a meaningful combination when you're managing liquidity and trying to offer customers faster services.
SoFi plans to make SoFiUSD available to all its members soon, extending the benefits beyond just institutional partners.
Stock Performance and Recent Capital Raise
SoFi stock has had a strong run this year, climbing over 60% year-to-date. The gains reflect investor enthusiasm for its digital banking ecosystem, which attracts members with diverse products and generates increasingly diversified revenue streams that have improved profitability.
The momentum hit a speed bump on December 5 when SoFi priced a public offering of 54.5 million shares at $27.50 each, raising roughly $1.5 billion before fees. Investors worried about dilution, sending shares lower. The company plans to use proceeds to strengthen its capital position, improve capital management efficiency, and fund growth opportunities. As of September 30, SoFi held about $3.25 billion in cash and equivalents.
Strong Earnings Fuel Optimism
In October, SoFi reported impressive third-quarter results. Revenue came in at $949.63 million, well above the $886.17 million analysts expected. Adjusted earnings hit 11 cents per share, beating the 8-cent forecast.
The company raised its full-year 2025 revenue guidance to $3.54 billion from $3.38 billion and bumped adjusted earnings expectations to 37 cents per share from 31 cents. Both figures exceeded analyst projections, reinforcing confidence in SoFi's growth trajectory.
SoFi Technologies shares were up 4.99% at $26.52 at the time of publication on Thursday.