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SAN FRANCISCO - Financial technology company SoFi Technologies (NASDAQ:SOFI), currently valued at $17.52 billion and showing impressive revenue growth of 23.62% over the last twelve months, plans to introduce self-serve international money transfers and cryptocurrency investing services later this year, according to a press release statement issued Wednesday. According to InvestingPro data, the company maintains a GOOD overall financial health score, suggesting strong operational fundamentals as it expands its service offerings.
The planned international money transfer service will allow eligible SoFi Money members to send funds to recipients in dozens of countries. The company states these transfers will utilize blockchain networks to convert U.S. dollars into local currencies for deposit into recipients’ accounts.
SoFi also announced its return to cryptocurrency investing, with plans to offer trading in Bitcoin and Ethereum. The company indicated it may expand these offerings to include stablecoins and additional services such as crypto-backed loans and staking features.
The company cited World Bank data showing that over $93 billion in remittances were sent abroad from the United States in 2023, highlighting potential demand for international transfer services.
SoFi CEO Anthony Noto said in the release that the company is "accelerating our efforts to give members more choice and more control" through crypto and blockchain innovations.
The announcement follows recent interpretive letters issued by the Office of the Comptroller of the Currency in March and May 2025, which permit nationally chartered banks to provide certain cryptocurrency services. SoFi owns a nationally chartered bank, SoFi Bank, N.A.
SoFi currently serves over 10.9 million members through its digital financial services platform, which includes borrowing, saving, spending, investing, and protection products. The company’s technology platform, Galileo, is also used by other financial institutions and brands.
Members can join waitlists for both the international money transfer and cryptocurrency investing services, which are expected to launch later in 2025.
In other recent news, SoFi Technologies reported impressive financial results for the first quarter of 2025, exceeding analysts’ expectations. The company achieved an earnings per share (EPS) of $0.06, surpassing the forecast of $0.04, and generated revenue of $771.76 million, exceeding the anticipated $740.33 million. This strong performance led SoFi to raise its full-year guidance, reflecting confidence in continued growth. Despite these positive results, BofA Securities maintained an Underperform rating on the stock, citing concerns about the uncertain macroeconomic environment.
Additionally, SoFi Technologies held its annual stockholders’ meeting, where shareholders elected ten board members and approved executive compensation. Deloitte & Touche LLP was ratified as the independent auditor for the fiscal year ending December 31, 2025. The company also announced significant growth in membership, adding 800,000 new members and launching 1.2 million new products, highlighting its expanding presence in the financial technology sector.
SoFi’s adjusted EBITDA rose by 46% year-over-year to $210 million, and the company reported a net income of $71 million with a 9% margin. Fee-based revenue also saw a substantial increase, reaching $315 million, up 67% year-over-year. The company continues to focus on product innovation and brand building, with plans to expand its offerings in areas such as crypto and blockchain.
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