SoFi Q2 Crypto Trading Revenue Hits $134M, Up 10% Quarter-Over-Quarter

SoFi reported $134M in crypto trading revenue for Q2, a 10% increase. Net income rose to $1.2M after costs. SoFiUSD now enables 24/7 commercial payments on Ethereum and Solana.

Woofun AI reports that SoFi generated $134 million in cryptocurrency trading revenue during the second quarter, representing a 10% sequential increase. After subtracting $133 million in transaction expenses, net revenue reached $1.2 million, surpassing the approximately $850,000 recorded in the first quarter. This segment constituted a minor fraction of the company’s $1.2 billion adjusted net revenue for the period.

Simultaneously, SoFi’s corporate banking platform initiated round-the-clock commercial payment processing using SoFiUSD. The stablecoin is accessible to banking application users and facilitates buying, selling, holding, and exchanging on Ethereum and Solana.