SoFi Q1 revenue of $1.1 billion, launches SoFiUSD stablecoin minting

SoFi Technologies released its first quarter financial report for 2026, with a net revenue of $1.1 billion, a year-on-year increase of 41%, and a net profit of $167 million, achieving GAAP profitability for the tenth consecutive quarter. The company has initiated the casting of the full reserve US dollar stablecoin SoFiUSD and developed stablecoin settlement capabilities, collaborating with Mastercard and others to support global payment networks. In addition, SoFi has restarted its SoFi Plus membership program and added benefits such as cashback on cryptocurrency purchases.