{"id":27867,"date":"2026-05-07T18:29:24","date_gmt":"2026-05-07T18:29:24","guid":{"rendered":"https:\/\/bitunikey.com\/news\/sofis-crypto-relaunch-earns-121m-keeps-852k\/"},"modified":"2026-05-07T18:29:35","modified_gmt":"2026-05-07T18:29:35","slug":"sofis-crypto-relaunch-earns-121m-keeps-852k","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/sofis-crypto-relaunch-earns-121m-keeps-852k\/","title":{"rendered":"SoFi\u2019s crypto relaunch earns $121m, keeps $852k"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">SoFi generated $121.6 million in crypto transaction revenue in Q1 2026, its first detailed public disclosure since the bank relaunched crypto trading, but $120.7 million of that went to costs.<\/p>\n<div id=\"cn-block-summary-block_32aed0cf8935dc4dc3d40cc860763261\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>SoFi disclosed that its relaunched crypto unit generated $121.6 million in Q1 transaction revenue.<\/li>\n<li>Related costs of $120.7 million nearly wiped out the revenue, leaving $852,000 in net crypto income for the quarter.<\/li>\n<li>The bank launched SoFiUSD in December and partnered with Mastercard for settlement, but the GENIUS Act may force a structural change to the stablecoin unit.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>SoFi\u2019s relaunched crypto unit generated $121.6 million in transaction revenue in the first quarter, its first detailed disclosure since the bank returned to crypto trading in November 2025. The figures show the economics of crypto brokerage at banking scale: $120.7 million in transaction costs consumed almost everything.<\/p>\n<p>The result left SoFi with just $852,000 in net crypto revenue for the quarter, according to the company\u2019s latest quarterly filing. The unit reported 239,509 crypto accounts, defined as opened accounts, not active users. CEO Anthony Noto said the company believes \u201cthe crypto super cycle will completely transform financial services.\u201d<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\"><strong>The stablecoin question<\/strong><\/h2>\n<p>SoFi launched SoFiUSD in December as a stablecoin for enterprise payments and began minting it in Q1. The company also entered a partnership with Mastercard to support future settlement capabilities across the card network. Those ambitions face a regulatory constraint: SoFi said the GENIUS Act would require it to migrate SoFiUSD to a \u201cseparately licensed or regulated entity,\u201d a shift that could complicate how the stablecoin sits within its banking stack.<\/p>\n<p>SoFi\u2019s overall Q1 results were strong. Net revenue reached $1.1 billion, up 43% year-over-year, with net income more than doubling to $166.7 million. Adjusted EBITDA climbed 62% to $339.9 million. The crypto unit\u2019s margin is a minor line in a record earnings report, but it is the sharpest snapshot yet of what bank-grade crypto brokerage costs to run.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>SoFi generated $121.6 million in crypto transaction revenue in Q1 2026, its first detailed public disclosure since the bank relaunched crypto trading, but $120.7 million of that went to costs.&hellip;<\/p>\n","protected":false},"author":1,"featured_media":11060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27867","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/27867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=27867"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/27867\/revisions"}],"predecessor-version":[{"id":27868,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/27867\/revisions\/27868"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/11060"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=27867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=27867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=27867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}