SoFi Technologies (SOFI) Doubles Down on Crypto—Stablecoins Now in Play

Fintech disruptor SoFi just upped its crypto game. Again.

The neobank—known for shaking up student loans and stock trading—is diving headfirst into stablecoins. No more dipping toes. This is full-scale deployment.

Why stablecoins now? Because volatility is so 2021.

While Wall Street still debates CBDCs, SoFi’s betting on the real demand: dollar-pegged digital assets for the masses. No Fed paperwork required.

One insider quipped, 'They’ll probably offer yield on these too—just to spite traditional banks.'

Bonus jab: Watch legacy finance scramble to explain why *their* stablecoin project is 'different' this time.

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The company said it will introduce international remittances through blockchain and stablecoins as it moves to allow users to invest in cryptocurrencies on its platform this year. The news comes after the company previously said that it plans a new push into digital assets such a Bitcoin (BTC) and ethereum (ETH) under the administration of U.S. President Donald Trump.

SoFi’s remittance service will allow users to send U.S. dollars and select stablecoins such as USDT (USDT) and USDC (USDC) to recipients abroad via established blockchain networks. Digital transactions can be sent around the clock, converted into local currencies, and deposited into recipients’ accounts, according to the company.

Re-Entering Crypto

Future services from SoFi could also include staking, borrowing against crypto holdings, and providing blockchain technology infrastructure to third parties through SoFi’s Galileo platform. The company has announced plans to re-enter the cryptocurrency business after the firm suspended its digital asset services in 2023 to obtain a banking license from U.S. regulators.

The MOVE back into crypto is supported by new guidance from the Office of the Comptroller of the Currency that allows nationally chartered banks to offer crypto and stablecoin services. “The future of financial services is being completely reinvented through innovations in crypto,” said SoFi in a news release. “We’re accelerating our efforts to give members more choice and more control.”

SOFI stock has gained 4% this year.

Is SOFI Stock a Buy?

The stock of SoFi Technologies has a consensus Moderate Buy rating among 15 Wall Street analysts. That rating is based on seven Buy, five Hold, and three Sell recommendations issued in the last three months. The average SOFI price target of $14.05 implies 14.12% downside from current levels.