New York, May 27, 2026, 18:03 EDT
- SoFi was last seen at $16.17, about 20 cents higher than its previous close.
- SoFi opened SoFiUSD to members in its app, linking the stock’s move to its wider stablecoin effort.
- There’s a clearer shot at product reach here, but the risk is if customers actually use it.
SoFi Technologies shares traded higher Wednesday after the company launched its SoFiUSD stablecoin in its app for close to 15 million members. Investors got a new angle on the stock, which has struggled this year. The shares were at $16.17, up 20 cents, after hitting $16.68 earlier in the day.
This is notable as SoFi wants to expand past loans and deposits into payments, an area where stablecoins are starting to attract banks, card networks and crypto players into direct competition.
SoFi opened up SoFiUSD inside its app, letting users buy, sell, hold, and convert the stablecoin. CEO Anthony Noto said SoFi is aiming to match “the speed and versatility of the blockchain with the trust of a bank” and offer members “a single place to buy, hold, and pay with digital assets.” SoFi Investors
SoFi’s rollout is giving the company a wider consumer test. The Wall Street Journal said the total stablecoin market is around $318 billion. Since December, SoFiUSD has hit about $100 million. SoFi also wants to list the token on the Bullish exchange before the end of June. Wall Street Journal
SoFi is telling customers it can offer the speed of crypto, but still with bank oversight. The company says SoFiUSD can be redeemed one-for-one for dollars and says it’s backed by liquid assets. SoFi says an independent U.S.-licensed accountant provides attestations.
Visa says the competition is heating up. In April, the company reported its annual run rate for stablecoin settlement volume hit $7 billion, a jump of more than 50% from the previous quarter. Fiserv is developing FIUSD for banks and businesses. Reuters
Mastercard is involved in SoFi’s stablecoin plan. The two said in March they would test settling card transactions with SoFiUSD. Mastercard executive Sherri Haymond said the effort could prove “trusted digital currencies can be used at global scale.” SoFi Investors
SoFi shares are still feeling the hit from last month’s earnings. The company posted first-quarter adjusted net revenue of $1.1 billion, a 41% gain, and adjusted EBITDA of $340 million. Loan originations hit a record $12.2 billion. Business Wire
SoFi didn’t update its 2026 revenue forecast, and investors sold the stock. William Blair’s Andrew Jeffrey said SoFi “did not flow through” the Q1 upside in its guidance and warned “the Street will hate these results,” though his team saw only limited downside. Reuters
Noto said the market moved this week as rate-cut bets shifted. “We came into the year thinking two to three rate cuts. Now people are thinking no rate cuts,” he told Investing.com. Investing.com UK
SoFi’s push into stablecoins might not move the needle right away. Barron’s reported it’s unclear if consumers will go for it, though SoFi is pitching things like tokenized deposits—basically digital bank deposits—and 24/7 global transfers. Barron’s
SoFi shares bounced back into positive territory Wednesday, even though the stock is moving more on hopes that SoFi can expand in consumer finance than on clear stablecoin revenue. That story is less about earnings growth right now, but it’s driving the trade for now.
