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SoFi Reports $1.1B Q1 Revenue, Up 41%, Launches SoFiUSD Stablecoin

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Token EventsPartnerships & EcosystemIndustry ReportsStocks

According to Businesswire, SoFi Technologies reported record Q1 net revenue of $1.1 billion, up 41% year-over-year, with net income of $167 million, marking its tenth consecutive quarter of GAAP profitability. The fintech company officially launched its full-reserve U.S. dollar stablecoin SoFiUSD during the quarter and is developing settlement capabilities in collaboration with Mastercard and other partners to support stablecoin settlement across global payment networks.

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