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.

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.

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

{"@context":"http:\/\/schema.org\/","@id":"https:\/\/unchainedcrypto.com\/sofi-keeps-about-a-penny-of-every-dollar-of-crypto-revenue\/#arve-youtube-8ydxqrhew1q","@type":"VideoObject","embedURL":"https:\/\/www.youtube-nocookie.com\/embed\/8YDXQrHew1Q?feature=oembed&iv_load_policy=3&modestbranding=1&rel=0&autohide=1&playsinline=1&autoplay=0"}

The post SoFi Keeps About a Penny of Every Dollar of Crypto Revenue appeared first on Unchained.