SoFi books $1.6 million in net crypto revenue on $161.6 million gross in Q3 2026
SoFi Technologies reported $161.6 million in gross cryptocurrency transaction revenue for the third quarter of 2026, netting $1.6 million after subtracting a $160 million cost line.
SoFi Technologies recorded $161.6 million in gross crypto transaction revenue during the third quarter of 2026, but retained $1.6 million after subtracting a $160.0 million cost line, according to an earnings release filed with the U.S. Securities and Exchange Commission on Tuesday. The net sum—reported as $1.63 million by CoinGape—marks a 38% increase from $1.18 million in the second quarter. The net crypto revenue represents about 1% of the gross crypto revenue and roughly 0.1% of SoFi's $1.385 billion in total net revenue for the period.[2][3]
The earnings release does not define what is included in the cost of crypto transaction revenue line, Unchained reported, though a footnote specifies that the net figure primarily reflects transaction fees collected for executing member buy and sell orders. Operational expenses such as marketing, technology, and staffing are not broken out under the line item. For the first nine months of 2026, SoFi recorded $417.5 million in gross crypto transaction revenue and $3.7 million in net crypto revenue.[2]
User adoption expanded alongside transaction volumes. SoFi tallied 503,070 crypto products as of Sept. 30, up from 388,336 at the end of June. The company notes that this metric tracks total SoFi Crypto accounts opened rather than active or funded accounts. Overall, SoFi posted $241 million in total net income for the quarter, an increase of 73% year over year, with membership climbing to 17.1 million. By comparison, competitor Robinhood reported $120 million in third-quarter cryptocurrency revenue, down 55% from the previous year.[1][2]
SoFi launched its crypto service in the fourth quarter of 2025. CoinGape reported the company is expanding its digital asset business via a partnership with Kraken parent Payward and its SoFi Earn tokenized deposit offering. While SoFi also introduced SOFIE—an interest-bearing tokenized deposit convertible into the SoFiUSD stablecoin—the SEC earnings release did not mention either token.[2][3]
Key facts
- SoFi reported $161.6 million in gross crypto transaction revenue and a $160.0 million cost line for Q3 2026, netting $1.6 million.
- Net crypto transaction revenue climbed 38% sequentially from $1.18 million in Q2 to $1.63 million in Q3 2026.
- Net crypto revenue accounted for roughly 1% of gross crypto revenue and about 0.1% of SoFi's $1.385 billion total net revenue for the quarter.
- Across the first nine months of 2026, SoFi generated $417.5 million in gross crypto transaction revenue and $3.7 million net.
- SoFi registered 503,070 cumulative crypto accounts opened by Sept. 30, up from 388,336 at the end of June.
- SoFi reported total company net income of $241 million across 17.1 million members in Q3 2026.
- SoFi's earnings filing did not mention SOFIE or SoFiUSD, which were introduced the prior week.
Sources · 3 sources
- LS
Laura Shin@laurashinPost on X ·
SoFi counted 503,070 crypto products at Sept. 30, up from 388,336 at the end of June. The metric tracks SoFi Crypto accounts opened, not active users. Net crypto transaction revenue rose to $1.6 million from $1.2 million. https://t.co/UjXBjLqwFM
Open source - UN
UnchainedArticle ·
SoFi Keeps About a Penny of Every Dollar of Crypto Revenue SoFi Technologies , the digital bank that returned to crypto investing late last year, recorded $161.6 million in crypto transaction revenue in the third quarter, then subtracted a $160.0 million cost line against it, leaving $1.6 million , according to the earnings release it filed with the SEC on Tuesday morning. SoFi books that remainder as “net crypto transaction revenue” on its income statement, and it is the only crypto number that flows into the company’s $1.385 billion of total net revenue for the quarter. It works out to about 1% of the gross crypto line and roughly 0.1% of SoFi’s total. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . What the Cost Line Leaves Out The release does not define what goes into the “cost of crypto transaction revenue” line. A footnote says the net figure mainly reflects transaction fees SoFi earns for handling members’ buy and sell orders. Other crypto-related spending, such as marketing, technology or staff, is not broken out, so the $1.6 million is the margin left on one revenue line rather than a measure of crypto profit. Across the first nine months of 2026, the line came to $417.5 million gross and $3.7 million net. Growth Since June Both figures rose from the prior quarter. In its second-quarter release , SoFi reported $134.3 million in crypto transaction revenue and $1.2 million net, which puts third-quarter growth at about 20% gross and 38% net. SoFi also counted 503,070 crypto products at Sept. 30, up from 388,336 at the end of June. Its definition counts SoFi Crypto accounts opened through the platform up to the reporting date, so the number tracks accounts opened, not active or funded users. For scale, SoFi posted $241 million in net income for the quarter, up 73% from a year earlier, and said it now has 17.1 million members. Robinhood, which also reported on Tuesday, booked $120 million in cryptocurrencies revenue for the third quarter, down 55% from a year earlier. SoFi Crypto launched in the fourth quarter of 2025, which the release describes as SoFi’s return to crypto investing. Last week, the company launched an interest-bearing tokenized deposit , SOFIE, that members can swap one-for-one into its SoFiUSD stablecoin. The earnings release does not mention either token. Related Listen: ‘The Crypto User Is Not That Loyal At All’: Guy Young on Ethena’s New Neobank The post SoFi Keeps About a Penny of Every Dollar of Crypto Revenue appeared first on Unchained .
Open source - CO
CoinGape@CoinGapeMediaPost on X ·
🚨 Today's #BrandPulse 𝗦𝗼𝗙𝗶’𝘀 𝗡𝗲𝘁 𝗖𝗿𝘆𝗽𝘁𝗼 𝗥𝗲𝘃𝗲𝗻𝘂𝗲 𝗥𝗶𝘀𝗲𝘀 𝟯𝟴% 𝗶𝗻 𝗤𝟯 𝟮𝟬𝟮𝟲 @SoFi Technologies reported $1.63 million in net crypto transaction #revenue in Q3, up from $1.18 million in Q2. The company is expanding its digital asset business through a partnership with #Kraken parent #Payward and its SoFi Earn #tokenised deposit product. 💡 How could crypto and tokenised deposits shape the future of traditional finance? 🔗 Full story in comments
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