SoFi shares rise 5% after stablecoin settlement goes live across its bank card program
AI Market Summary
SoFi shares rose after it launched stablecoin settlement across its bank debit/credit card program via Mastercard's network, extending SoFiUSD beyond investing into real-world payments. The rollout could improve payment economics and broaden merchant adoption by enabling 24/7 settlement without merchants holding stablecoins or changing infrastructure. Strong membership growth and higher lending adjusted net revenue add fundamental support, though profitability execution remains a key investor focus.
Impact level
● Medium
Affected assets
NCSKSOFI2USD/USDT-2.79%
AI Insight · NCSKSOFI2USD/USDTAI Insight
▲ Bullish
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SoFi Technologies said stablecoin settlement is now live across SoFi Bank’s debit and credit card program, using Mastercard’s network and moving its card settlement toward SoFiUSD. The company said the setup extends SoFiUSD-based payments to merchants, with a target of covering more than $25 billion in payment volume. Membership reached 15.8 million, and lending adjusted net revenue rose 59% year over year. Analysts tracked by TipRanks have an average 12-month price target of $20.67, implying about 22% upside versus Monday’s close.
