December 18, 2025 — SoFi Technologies, Inc. (NASDAQ: SOFI) is back in the headlines today after unveiling a new crypto-adjacent product that it says could push the company further into the plumbing of modern finance: a U.S.-dollar stablecoin called SoFiUSD. The announcement lands just weeks after SoFi priced a $1.5 billion common-stock offering—an event that reignited the long-running tug-of-war between “growth funding” and “share dilution” in the SOFI bull vs. bear debate.
Below is what’s new on 12/18/2025, what the latest reporting says, and how Wall Street’s current forecasts frame the next 12 months for SoFi stock.
SoFi stock price today (SOFI): where shares stand on Dec. 18, 2025
As of Dec. 18, 2025, SoFi shares are trading around $25.27, implying a market capitalization of about $31.85 billion. The stock’s 52-week range is roughly $8.60 to $32.73, underscoring just how much volatility investors have been willing to stomach in exchange for growth potential. Investing.com lists SoFi’s next earnings report for Feb. 2, 2026. [1]
Those numbers matter because 2025 has been a story of big upside and big mood swings. At its recent highs, some outlets described SoFi as having surged more than 90% on the year, while more recent snapshots put year-to-date gains closer to the mid-double-digits after the pullback tied to dilution concerns. [2]
The big news on 12/18/2025: SoFi launches the SoFiUSD stablecoin
SoFi announced today that it has launched SoFiUSD, describing it as a fully reserved U.S.-dollar stablecoin issued by SoFi Bank, N.A. The company says the goal is to become a stablecoin infrastructure provider for banks, fintechs, and enterprise platforms—i.e., not just a consumer trading feature, but a business-to-business settlement rail. [3]
Key details SoFi disclosed today include:
- Issuer and oversight: SoFi says SoFiUSD is issued by SoFi Bank, N.A., an OCC-regulated insured depository institution. [4]
- Reserve model: SoFi states SoFiUSD is fully reserved 1:1 by cash for redemption, and highlights that, as a nationally chartered insured bank, it can hold reserves in cash at its Federal bank account (SoFi’s wording) to reduce liquidity/credit risk while generating “incentives” it expects to share with partners and holders. [5]
- Settlement pitch: SoFi says running SoFiUSD on a public, permissionless blockchain enables 24/7 movement of funds with near-instant settlement at “fractional-cent” pricing. [6]
Barron’s reporting adds that SoFiUSD is initially positioned for commercial use—partners like banks, retailers, and card networks—while broader availability to consumers is expected later. [7]
Is SoFiUSD on Ethereum?
A crypto-focused outlet, Decrypt, reported the stablecoin as an Ethereum stablecoin for trading and payments. SoFi’s press release emphasizes “public, permissionless blockchain,” while some coverage specifies the chain. Investors should watch for SoFi’s technical documentation and partner announcements that clarify network choice, interoperability plans, and compliance controls. [8]
Why this matters for SOFI stock: SoFi is trying to sell “rails,” not just “apps”
SoFi’s strategic aspiration has been to look less like a single-product lender and more like a diversified financial platform with multiple profit engines:
- A consumer financial “super app” (banking, investing, lending, credit card, etc.).
- A technology platform (Galileo and related infrastructure) that services other institutions.
- Higher-margin, fee-based lines that can grow even when lending spreads tighten.
The stablecoin announcement is aimed squarely at #2. SoFi explicitly says its stablecoin infrastructure will let partners either issue white-label stablecoins or plug SoFiUSD into their settlement flows, and it frames the product as a solution to slow settlement and “unverified reserve models.” [9]
It also ties SoFiUSD to specific SoFi-owned distribution channels: the company says SoFiUSD can be used for settlement in its crypto trading business, for SoFi Pay (including international remittance and point-of-sale purchases), and as an alternative payment method for Galileo partners. [10]
In plain English: SoFi wants to be the regulated bridge between traditional finance and tokenized money movement—charging for the bridge, not just inviting people to walk across it.
Stablecoin regulation context: GENIUS Act tailwind—and constraints
Stablecoins don’t exist in a regulatory vacuum anymore. The GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act) became law on July 18, 2025, creating a federal framework for “payment stablecoins” and their issuers. [11]
A key policy theme across regulatory summaries is that payment stablecoins are expected to be fully backed and subject to ongoing oversight and disclosures. The Richmond Fed’s explainer notes that payment stablecoins generally require 100% reserves and monthly reporting/certification, and it also highlights that issuers of payment stablecoins cannot pay interest or yield to holders under the framework it summarizes. [12]
That last point is worth watching because SoFi’s press release language emphasizes “incentives” shared with partners and holders derived from reserve management. Whether that is structured as rewards, rebates, partner economics, or something else—and how it fits with evolving rulemaking—could matter for adoption and margins. [13]
SoFi’s broader crypto push: from crypto trading to stablecoin issuance
Today’s stablecoin launch didn’t come out of nowhere. In November 2025, SoFi announced the launch of SoFi Crypto, describing itself as the “first and only nationally chartered, FDIC insured bank” to offer consumer crypto trading on its platform, with support for assets including Bitcoin and Ethereum. [14]
Reuters reporting around SoFi’s Q3 results also quoted CEO Anthony Noto outlining a crypto roadmap that included consumer crypto trading and a SoFi USD stablecoin planned for the first half of 2026—a timeline the company is now beating with today’s launch. [15]
For investors, the throughline is simple: SoFi is attempting to treat blockchain rails as a “technology super cycle” opportunity—something it can monetize across consumer, enterprise, and infrastructure lines—rather than a bolt-on trading feature. [16]
The dilution hangover: SoFi’s $1.5B stock offering (and why it still matters today)
If the stablecoin story is the growth narrative, the capital raise is the reminder that growth often comes with a bill.
SoFi announced and priced an underwritten public offering of 54,545,454 shares at $27.50 per share for gross proceeds of about $1.5 billion, plus an option for underwriters to purchase additional shares. The company said proceeds would be used for general corporate purposes, including enhancing capital position and funding growth opportunities. [17]
Market reaction to the offering news in early December was negative, largely because issuing new shares dilutes existing shareholders. MarketWatch described shares sliding after the announcement, citing investor concern about dilution and noting the offering priced at a discount to the prior close. [18]
Importantly, this wasn’t the only big raise in 2025. SEC filings describe another SoFi underwritten public offering of $1.5 billion announced and priced in July 2025. [19]
Investopedia also emphasized that the December raise was the company’s second capital raise of the same size within six months—something that surprised parts of the Street even as it acknowledged SoFi’s growth ambitions. [20]
How that connects to today’s stablecoin news: if SoFi is serious about being infrastructure for banks, fintechs, and enterprises—plus running a regulated stablecoin—capital strength and regulatory comfort matter. Bulls can plausibly argue that SoFi is stockpiling flexibility for a new product era; bears can plausibly argue shareholders are paying for that flexibility via dilution.
Fundamentals check: what SoFi’s latest results say about profitability and scale
SoFi’s stock story works (or doesn’t) on fundamentals, not vibes. In its third quarter 2025 results, SoFi reported:
- GAAP net revenue of $961.6 million (+38% year over year) and record adjusted net revenue of $949.6 million (+38%). [21]
- GAAP net income of $139.4 million and diluted EPS of $0.11, marking its eighth consecutive quarter of GAAP profitability, per the company. [22]
- Adjusted EBITDA of $276.9 million (+49%) and an adjusted EBITDA margin of about 29%. [23]
- Members of 12.6 million (+35%) and products of 18.6 million (+36%). [24]
- Total deposits of $32.9 billion, with SoFi highlighting that nearly 90% of SoFi Money deposits came from direct deposit members. [25]
Reuters’ coverage of the same quarter emphasized that SoFi’s adjusted revenue beat expectations and that adjusted profit came in above forecasts, alongside management’s crypto-and-stablecoin ambitions. [26]
From an investor’s perspective, that combination—profitability plus fast member/product growth—is the “permission slip” SoFi uses to justify expanding into adjacent markets like crypto trading and stablecoin infrastructure.
SOFI stock forecast: where analysts see shares heading into 2026
Analyst forecasts for SoFi remain wide—not unusual for a high-growth, high-volatility fintech that is still proving the durability of its earnings power.
As of today (Dec. 18, 2025), Investing.com lists an average 12‑month price target around $26.97, with a high estimate of $38 and a low estimate of $12, and a “Neutral” overall rating in its summary. [27]
MarketWatch similarly shows targets spanning roughly $12 to $38, with an average around the upper‑$20s and a median around $27.50 (as of its Dec. 18 update). [28]
What that distribution implies:
- The market is not arguing about whether SoFi is “real” anymore (profitability has changed that debate).
- The market is arguing about how much it should pay for SoFi’s future—especially after a year with both a major rally and two large equity raises. [29]
The bull case for SoFi stock: what could go right in 2026
A bullish 2026 view typically rests on some combination of:
Stable, compounding profitability. SoFi’s Q3 numbers show meaningful operating leverage (revenue up faster than many expense lines) and continued GAAP profitability. [30]
Platform optionality. SoFi’s pitch for SoFiUSD is explicitly about monetizing infrastructure for other institutions—an attractive idea because B2B rails can be sticky if you win integrations and handle compliance well. [31]
Crypto expansion under clearer rules. SoFi is trying to position itself as a regulated on-ramp for consumers and institutions, rather than a “move fast and break regulators” crypto venue. Its November crypto trading launch and today’s stablecoin rollout are consistent with that thesis. [32]
The bear case: what could break the SOFI story
The bear case is not that SoFi has no business. It’s that the business may not deserve a premium multiple if these risks dominate:
Dilution and capital strategy. Two $1.5B equity offerings in 2025 can be read as prudence—or as an admission that capital levels and growth plans require frequent shareholder funding. [33]
Regulatory and implementation risk in stablecoins. Even with a legal framework, stablecoin rulemaking, bank supervisory expectations, and product design constraints can determine whether an issuer can scale profitably (and what “incentives” are allowed). [34]
Credit cycle exposure. SoFi is still materially exposed to consumer credit performance through its lending operations. A softer economy or deteriorating credit quality can pressure growth and margins, even if fee-based lines expand. (This is a structural risk factor for the business model, not a prediction.)
Execution risk on the “rails” strategy. Infrastructure products only look inevitable in hindsight. Winning partners, integrating into enterprise stacks, and delivering “bank-grade” compliance on blockchain rails is hard—and competitors (banks, payment networks, and other fintechs) are not standing still. [35]
What to watch next (starting now)
For investors tracking SoFi stock after today’s stablecoin launch, these are the practical signposts that can turn headlines into measurable progress:
- SoFiUSD rollout milestones: when “available soon to all SoFi members” becomes an actual consumer launch, and whether partners adopt SoFi’s infrastructure. [36]
- Disclosure on reserves and attestations: frequency, third-party verification, and how SoFi communicates reserve custody and redemption mechanics under the stablecoin framework. [37]
- Earnings on Feb. 2, 2026: guidance, credit performance, fee-based revenue trends, and any quantifiable contribution from crypto/stablecoin initiatives. [38]
- Capital management follow-through: how the December proceeds translate into balance-sheet strength, growth investment, or other strategic moves—without repeated shareholder dilution. [39]
Bottom line for SOFI stock on 12/18/2025
Today’s SoFiUSD announcement is a meaningful signal: SoFi isn’t merely “back in crypto,” it’s trying to productize regulated crypto rails for the broader financial system. If that works, it could expand SoFi’s addressable market beyond consumer finance and into institutional money movement—an outcome that would justify why the company keeps talking about infrastructure and “super cycles.” [40]
But the market is also keeping score the old-fashioned way: share count, profitability durability, and whether ambitious new products translate into recurring revenue rather than recurring press releases. The recent $1.5B offering—and the fact it followed a similar raise earlier in 2025—keeps dilution risk firmly in the frame right alongside the growth story. [41]
References
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