SoFi Technologies (NASDAQ: SOFI) has reported record-breaking third-quarter results that exceeded Wall Street expectations, prompting the fintech giant to raise its full-year profit forecast. The company's impressive performance was largely driven by robust fee revenue and significant user growth across its diverse range of financial products. CEO Anthony Noto affirmed the company's aggressive expansion into the digital asset economy, announcing plans to launch crypto trading by the end of the year and to introduce its own SoFi USD stablecoin in the first half of 2026.

Financially, SoFi saw its adjusted revenue climb 38% year-over-year, reaching $950 million, comfortably surpassing analyst estimates of $886.6 million. The company's adjusted profit more than doubled to $0.11 per share for the three months ending September 30, exceeding expectations of $0.08 per share. Following this positive announcement, SoFi's shares rose 3.8% in pre-market trading, as reported by Reuters.

SoFi's strategic pivot towards digital assets mirrors moves by other major financial institutions, such as Morgan Stanley, which recently announced its own plans for crypto trading for retail clients on its E*Trade platform through a partnership with Zerohash for liquidity, custody, and settlement.

Founded initially as a student loan refinancing startup, SoFi has undergone a significant transformation into a comprehensive financial services platform. Its offerings now span from IPO investing and credit cards to high-yield savings accounts, establishing its position as a leading player in the fintech sector with a market capitalization of approximately $36 billion.

This year has marked a pivotal moment for SoFi's engagement with cryptocurrency. In June, the company reinstated spot crypto trading and unveiled plans for a blockchain-based global remittance service. This re-entry into the crypto space follows a halt in its crypto services in 2023 due to regulatory constraints. SoFi members can now once again buy, sell, and hold cryptocurrencies like Bitcoin directly within the platform.

In addition to reintroducing crypto trading, SoFi is set to launch a new self-serve international money transfer feature. This service will enable SoFi Money users to send funds across dozens of countries directly from the SoFi app, utilizing secure blockchain networks for transfers. Recipients are expected to receive local currency instantly, with full transparency regarding fees and exchange rates provided upfront, alongside 24/7 access to transaction information. CEO Anthony Noto reiterated in June that SoFi views blockchain and crypto as fundamental to the future of financial services, aiming to provide members with enhanced control and flexibility over their financial lives.