SoFi Technologies reported record fourth-quarter revenue of $1 billion, driven by strong growth in members and financial products. The fintec’s return to the crypto market in late 2025 contributed, with over 63,000 crypto products logged in just the final days of December. This performance aligns with a broader trend of major traditional banks, including JPMorgan Chase and UBS, exploring cryptocurrency services.
The fintech bank SoFi Technologies reported record fourth-quarter revenue of $1 billion as it reintroduced consumer crypto-based products. Its adjusted net revenue rose 37% year-on-year, while GAAP net income reached nearly $174 million.
SoFi reported total fee-based revenue of a record $443 million for the quarter. Total members grew about 35% to 13.7 million, with 1.6 million new products added.
The company logged 63,441 crypto products following its December 22 launch. That figure reflects activity only between December 22–31 and is not representative of a full quarter.
The results come after SoFi’s return to the cryptocurrency market, following a pullback in November 2023. In June, the company reintroduced crypto trading and rolled out blockchain-powered remittances.
In December, SoFi launched SoFiUSD, a US dollar–backed stablecoin. It was issued by its banking subsidiary, SoFi Bank.
US banks are increasingly taking pro-crypto steps. In May, several of the largest US banks began discussing a potential joint stablecoin initiative.
The report said companies affiliated with JPMorgan Chase, Bank of America, Citigroup and Wells Fargo have held preliminary talks. They discussed jointly issuing a dollar-pegged crypto stablecoin.
In October, JPMorgan Chase said it plans to offer cryptocurrency trading, while ruling out direct crypto custody in the near term. The bank’s global head of markets and digital assets, Scott Lucas, said JPMorgan is assessing trading services and potential third-party custodians.
On Jan. 23, UBS began exploring plans to offer crypto trading to its wealthiest clients. The Swiss banking giant would initially allow select private-banking clients in Switzerland to trade Bitcoin and Ether.
In an X post on Saturday, Coinbase CEO Brian Armstrong said conversations with bank executives at the World Economic Forum revealed a shift in tone. He said most of the bank CEOs he met were “actually very pro crypto and are leaning into it as an opportunity (some aren’t quite there yet).”
