SoFi reports 388336 crypto products, Q2 net transaction revenue at 1.2 million

SoFi Technologies reported 388,336 cumulative crypto products as of June 30. The company's Q2 filing indicated net crypto transaction revenue of 1.183 million dollars. The earnings release showed 134 million dollars in crypto transaction revenue and 133 million dollars in costs, resulting in a net transaction revenue margin of about 0.88%. This figure does not represent a profit margin, as it precedes broader operating expenses. SoFi records crypto transactions on a gross basis, acting as principal by buying and selling digital assets through third-party liquidity providers. The net crypto transaction revenue is primarily driven by fees collected for handling orders. Q2 net revenue improved by 331,000 dollars, a 38.8% increase from Q1's 852,000 dollars. The total net revenue for the first half reached 2 million dollars. The 388,336 products reflect all crypto accounts opened by quarter-end, while the 1.183 million dollars pertains solely to Q2 revenue, preventing the calculation of metrics like per-user take rate. SoFi plans to launch consumer crypto trading on November 11, 2025, with Q2 showing increased net transaction revenue but no indication of crypto profitability.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.