SoFi’s crypto relaunch brought in $121.6 million in Q1. Almost all of it went to costs

CoinDesk Staff

(12:49 PM UTC)

1 min read

The company launched the SoFiUSD stablecoin for enterprise payments in December and partnered with Mastercard for settlement capabilities.

Nationally chartered U.S. bank SoFi’s relaunched crypto business generated $121.6 million in crypto transaction revenue in the first quarter, its first granular disclosure of the unit’s economics since the bank returned to the cryptocurrency space late last…

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