SoFi plans to raise $1.5 billion to ramp up its crypto efforts, with plans to launch a US dollar stablecoin in 2026

American well-known fintech company SoFi Technologies recently announced plans to raise up to $1.5 billion through a secondary stock offering. The offering price range is set at $27.50 to $28.50 per share, representing a discount of up to 7.1% compared to the previous closing price before the announcement. The company stated that the funds raised will be used to strengthen its capital position and seize new business growth opportunities. Notably, SoFi revealed in its Q3 earnings report that its crypto trading service is about to go live, and it plans to launch its own SoFi USD stablecoin in the first half of 2026. This move marks the strategic expansion of this “one-stop” financial app, which has over 12.6 million members, from traditional lending into the crypto asset space.

Details of the $1.5 Billion Secondary Offering: Goldman Sachs Leads Underwriting, Stock Price Reacts

SoFi Technologies has recently officially launched its public stock offering. According to the announcement, the company plans to sell $1.5 billion worth of common stock and grants underwriters a 30-day option to purchase an additional 15% of the shares. The underwriting syndicate is considered top-tier, led by Goldman Sachs, with Bank of America Securities, Citigroup, Deutsche Bank Securities, and Mizuho Securities USA participating.

Market reaction to this large-scale financing was swift. In after-hours trading following the announcement, SoFi’s stock price fell by 5.8%, to $27.89 per share. The offering price range of $27.50 to $28.50 per share, compared to the previous day’s close of $29.60, provides a maximum discount of 7.1%. This type of discounted issuance is a common practice for listed companies seeking to raise capital, aimed at attracting investor subscriptions, but it also results in short-term dilution of existing shareholders’ equity. SoFi stated that the net proceeds from this financing will be used for general corporate purposes, primarily to enhance capital strength, improve capital management flexibility and efficiency, and fund incremental growth and business opportunities.

The timing of this financing is noteworthy. SoFi’s stock price has increased by 92% since the beginning of this year up to the announcement. Using a relatively high stock price for equity financing at this point is a cost-effective way to raise capital. Although it may exert short-term pressure on the stock price, the ample capital reserves provide a solid financial foundation for its next strategic expansion, especially in high-growth areas like crypto.

Key Information on SoFi’s Financing and Crypto Business

Funding Plan: Public secondary offering of stock, targeting $1.5 billion, with over-allotment option granted to underwriters.

Pricing: $27.50 - $28.50 per share, up to 7.1% discount from previous close.

Underwriters: Goldman Sachs, Bank of America Securities, Citigroup, Deutsche Bank Securities, Mizuho Securities USA.

Use of Funds: Strengthen capital position, seize new business opportunities (including crypto expansion).

Crypto Business Progress:

• Crypto trading service waitlist opened.
• Plans to launch its own brand “SoFi USD Stablecoin” in the first half of 2026.

Financial Performance: Record Q3 adjusted net income of $949.6 million, up 38% YoY; adjusted profit doubled.

From Lending to Crypto: SoFi’s “One-Stop” Financial Ecosystem Ambition

SoFi’s recent financing is closely related to its diversification strategy, especially its move into the crypto sector. Originally known for student loan refinancing, the company has successfully transformed into a comprehensive fintech platform offering lending, savings, investing, insurance, and more, with a market cap of about $36 billion. Its core narrative is to become a “one-stop” digital financial shop that helps users achieve “financial independence.”

Crypto assets are becoming a key new product to be added to this “shop.” SoFi CEO Anthony Noto has explicitly stated that the company will officially launch cryptocurrency trading services within this year, allowing users to buy and sell dozens of cryptocurrencies directly within its app. More strategically, SoFi plans to launch its own USD stablecoin in the first half of 2026. This indicates that SoFi not only aims to be a trading gateway for crypto assets but also intends to participate in building the core infrastructure connecting traditional finance and the crypto world through stablecoins.

This layout aligns highly with SoFi’s overall “super app” strategy. By seamlessly integrating crypto trading, stablecoins, and existing banking accounts, stock investing, and financial planning services, SoFi can provide its over 12.6 million members with a unified interface to manage all assets—whether fiat or crypto. This is highly attractive to the younger generation consumers who are gradually shifting toward digital financial platforms and is a key competitive advantage over traditional banks.

Performance Growth Supports Expansion: Why Invest Heavily in New Business Now?

SoFi’s confidence in conducting large-scale financing and expanding into new areas like crypto at this time stems from its consistently strong financial performance. Its latest Q3 earnings report far exceeded market expectations: adjusted net income reached a record $949.6 million, up 38% YoY; adjusted profit doubled to $0.11 per share. Based on this, SoFi raised its full-year profit guidance, demonstrating management’s confidence in business growth.

CEO Anthony Noto pointed out during the earnings call that, beyond core lending, the results of its diversified expansion in customer services are already reflected in performance. This indicates that the move into crypto and other new fields is not a reckless chase of hot trends but a natural extension of its validated “business diversification-income growth” logic. Crypto is expected to become another key growth engine after lending, investing, and Galileo’s technology platform.

From an industry perspective, the US crypto regulatory environment has become clearer after the passage of the “Payment Stablecoin Clarity Act,” removing major obstacles for licensed fintech companies like SoFi to operate crypto businesses compliantly. Meanwhile, traditional asset managers like BlackRock and Fidelity have successfully entered the market through spot ETFs, and brokerages like Charles Schwab have announced upcoming entry, indicating that mainstream finance’s acceptance of crypto assets is an irreversible trend. SoFi’s accelerated layout now aims to seize the opportunity before the market competition landscape fully consolidates.

Impact and Outlook: Increasing Integration of Traditional Fintech and Crypto Industry

SoFi’s financing and business moves will have a ripple effect on both the traditional fintech industry and the crypto sector. For the fintech track, SoFi sets a clear benchmark: competition in purely vertical services (like lending) is becoming fierce, and future winners must be able to offer comprehensive financial services and successfully integrate crypto assets. This may accelerate other similar companies’ efforts to expand or cooperate in the digital asset space.

For the crypto industry, especially in the US, SoFi’s entry means further broadening of user access. As a platform with a large and highly engaged user base, launching crypto trading within SoFi can significantly lower the barrier for ordinary users to first access Bitcoin, Ethereum, and other cryptocurrencies. If its planned stablecoin is successfully issued, it will add a stablecoin backed by a large, regulated fintech company, potentially further changing the competitive landscape.

However, challenges also exist. Crypto trading services will face fierce competition from native exchanges like Coinbase and traditional brokerages like Charles Schwab. The stablecoin launch will need to navigate complex compliance requirements and establish broad application scenarios. Additionally, crypto market volatility may introduce new uncertainties to its overall performance. Whether these new businesses can be successfully integrated and transformed into sustainable profit sources will be the next market focus.

What is a Stablecoin and Its Main Types? What is SoFi’s Galileo Platform?

Stablecoins: The “Value Anchor” of the Crypto World

Stablecoins are a type of cryptocurrency designed to maintain stable prices, usually pegged to fiat currencies like the US dollar or assets like gold. Their main role is to serve as a medium of exchange and store of value within the crypto market, avoiding the volatility of other cryptocurrencies. Main types include:

• Fiat-collateralized: e.g., USDC, USDT, issued with reserves of equivalent USD cash or short-term government bonds.
• Crypto-collateralized: e.g., DAI, generated by over-collateralizing with other cryptocurrencies like Ethereum via smart contracts.
• Algorithmic: attempt to maintain stability through algorithms and tokenomics (more risky).

SoFi’s planned stablecoin is expected to be fiat-collateralized, closely linked to its existing banking operations.

Galileo: The “Behind-the-Scenes” Engine of SoFi

Galileo is an important technology platform under SoFi, not directly facing consumers. Its main business is providing payment processing, card issuance, account management, and core banking infrastructure services to other fintech companies, banks, and brands. Currently, it supports nearly 1.6 billion accounts worldwide. This business provides SoFi with stable, high-margin revenue and is a key pillar enabling ongoing investment in consumer innovations, including crypto.

The $1.5 billion financing plan, together with the announced crypto roadmap, clearly outlines SoFi’s next strategic focus. While traditional lending remains steady, expanding into digital assets is a natural move to build a complete financial ecosystem and enhance user stickiness. This is not only a strategic breakthrough for SoFi but also a reflection of the accelerating integration trend between traditional fintech and the crypto world. In the future, seamless management of fiat and crypto assets within a single app will become standard. For SoFi, leveraging its large user base and integrated experience to stand out in the increasingly competitive crypto service market will be crucial to realizing its ultimate vision of a “one-stop financial shop.”