SoFi's Stablecoin Soars, Boosting Revenue

SoFi Technologies stock surged as they launched SoFiUSD, their first stablecoin, marking a significant step in their blockchain expansion. Unlike competitors, SoFis status as a regulated national bank gives them an edge, focusing on real-world issues like payments and liquidity. Their third quarter results were impressive, with earnings per share doubling and revenue jumping 38%. SoFiUSD is expected to boost global transactions and provide white-label infrastructure to other banks, positioning them for long-term revenue growth.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.