SoFi Reports 503,000 Crypto Products and $161.6M Revenue

US fintech company SoFi reported 503,070 crypto products at the end of the third quarter of 2026, meaning crypto accounts opened by its customers. Crypto transaction revenue came to $161.6 million for the quarter, but only $1.6 million remained after the cost of buying the assets. The figures appeared in the company's Form 8-K filed on Oct. 27.

Details

SoFi returned to crypto trading in the fourth quarter of 2025 with the launch of SoFi Crypto, so the report has no year-over-year comparison: the column reads "n/m". The company has 17.1 million members and 23.2 million financial services products, of which crypto is about 2%.

The $161.6 million is gross revenue. After $160 million in cost of crypto transaction revenue, net revenue was $1.6 million. For the first nine months of 2026, gross crypto revenue was $417.5 million and net was $3.7 million. SoFi's total quarterly net revenue rose to $1.39 billion with $241 million in net income, The Block reported.

What it means for the market

For the crypto market, customer count matters more than the revenue line: banking apps give direct access to coins for people who never used exchanges. The report also shows that SoFi earns almost nothing on the trades themselves so far.

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