New York, June 23, 2026, 06:03 EDT
- SOFI was shown at $16.70 in premarket trading at 6:00 a.m. ET, down 2.3% from Monday’s close of $17.10.
- Bullish said Monday it had listed SoFiUSD, the dollar stablecoin issued by SoFi Bank, N.A.
- The move came as Nasdaq futures dropped more than 2%, putting pressure on growth and fintech shares before the U.S. open.
SoFi Technologies shares were indicated lower before Tuesday’s regular session, as a fresh distribution win for its bank-issued stablecoin ran into a risk-off market.
The stock was quoted at $16.70 in premarket trading at 6:00 a.m. ET, down $0.40 from the previous close of $17.10, according to Public.com. Nasdaq premarket trading runs from 4:00 a.m. to 9:30 a.m. ET, before the regular session opens.
That matters now because SoFi’s latest digital-asset step is landing on a bad tape. Reuters reported Nasdaq futures were down more than 2% early Tuesday, hit by concern over higher U.S. rates and the cost of artificial-intelligence spending; S&P 500 and Dow futures were also lower.
Bullish said on June 22 that SoFiUSD was live for trading on its exchange. A stablecoin is a digital token designed to keep a steady value against a real-world currency, in this case the U.S. dollar. Bullish called the listing the first centralized-exchange listing for SoFiUSD and said the token was issued by SoFi Bank, N.A.
Bullish CEO Tom Farley said “regulated institutions are no longer watching digital assets from the sidelines.” SoFi CEO Anthony Noto said the listing could bring SoFiUSD to “a broader audience.” Bullish
The development extends a push SoFi highlighted in its first-quarter filing, when it said it had begun minting SoFiUSD and was developing settlement capabilities with partners including Mastercard. SoFi also said first-quarter adjusted net revenue rose 41% to $1.1 billion, while adjusted EBITDA — earnings before interest, taxes, depreciation and amortization, as adjusted by the company — rose 62% to $340 million.
The core debate is still not only crypto. SoFi remains a digital lender and bank, and in the first quarter it reported record total loan originations of $12.2 billion, 14.7 million members and 22.2 million products. Noto described the quarter as one of “durable growth and strong returns.” SEC
Investors have been less forgiving. Reuters reported after the April results that SoFi’s shares fell even though profit doubled and loan growth hit records, because the company kept its 2026 forecast unchanged rather than raising it.
There was also a recent insider signal. A June 16 SEC Form 4 showed Noto bought 13,888 SoFi shares at a weighted average price of $18.0578, lifting his direct holdings to 11,960,507 shares.
The peer tape was mixed but weak for higher-growth consumer-finance names. Affirm was indicated down 2.4% and Upstart fell 3.3% in early trading data, while SoFi’s move kept it in the same pressure zone as other lenders tied to consumer credit, rates and risk appetite.
But the digital-asset story can cut both ways. SoFi’s own disclosures say investments and digital assets are not FDIC insured, are not bank guaranteed and may lose value, and the stablecoin business still has to prove it can add durable revenue rather than just headlines.
For the stock, the near-term test is plain enough: whether buyers treat SoFiUSD as another fee-bearing rail for the platform, or whether a weak Nasdaq, credit worries and the unchanged 2026 outlook keep driving the price.
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