SoFi stock jumps 5% as its stablecoin payments plan expands through Mastercard, with SoFiUSD targeting merchants and more than billion in payment volume.

Updated on: Sep 22, 2026, 21:07:53 IST

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SoFi Technologies shares jumped 5% on Tuesday after the company announced that stablecoin settlement is now live across SoFi Bank’s debit and credit card program. The system uses Mastercard’s global payments network, giving SoFi a bigger role in blockchain-based payments.

The move takes SoFi’s cryptocurrency business beyond simply offering digital assets as an investment product. The company is now using blockchain technology for everyday card payments and settlement. SoFi’s card program is moving toward settlement through SoFiUSD, the company’s US dollar stablecoin. Stablecoins are digital tokens designed to maintain a stable value, usually by being linked to a currency such as the US dollar.

SoFi stablecoin payments

The company expects the card program to generate more than $25 billion in annualized payment volume. That gives SoFi a potentially large payments business where its stablecoin can be used behind the scenes. SoFi said it is the first national bank to operate stablecoin settlement through Mastercard’s worldwide network. This means the company is connecting blockchain-based settlement with an established global card payments system.

The plan could also create an opportunity outside SoFi’s own customer base. Merchants using the system can receive settlement funds around the clock without having to hold stablecoins themselves, according to TipRanks. Merchants also would not need to replace their existing payment infrastructure to use the system. This could make it easier for businesses to adopt SoFi’s stablecoin-based settlement technology.

SOFI stock 2026

SoFi has already been in discussions with large US merchants about using the technology. If more merchants join, SoFiUSD could move beyond SoFi’s banking customers and become part of a wider commercial payments network. The announcement comes after a difficult period for SoFi investors. SOFI shares are down about 31% in 2026, even though the company has continued to report growth in revenue, membership and lending activity.

SoFi second-quarter results

One issue weighing on financial stocks has been higher Treasury yields, which can put pressure on rate-sensitive companies. Investors are also watching SoFi’s growing lending business because higher lending exposure can bring greater credit risk and capital requirements.

These concerns were also visible after SoFi reported its second-quarter results. The company posted several strong numbers, but investors continued to focus on whether its rapid revenue growth would translate into stronger profits.

SoFi revenue and EBITDA

Adjusted net revenue increased 40% year over year to a record $1.2 billion, according to the company’s second-quarter results cited by TipRanks. Adjusted EBITDA rose 44% to $358 million, showing that SoFi continued to expand its operating earnings alongside revenue.

SoFi’s customer base also continued to grow. Membership reached 15.8 million, highlighting continued growth in the number of people using its financial products. Lending was another strong part of the business. Lending adjusted net revenue jumped 59%, showing that customer activity in SoFi’s lending business remained strong during the quarter.

SoFi revenue outlook

SoFi also raised its 2026 revenue outlook, but it kept its earnings forecast unchanged at $0.60 per share. That difference has made investors look more closely at how much of the company’s rising sales are turning into earnings. Another concern was weakness in SoFi’s Technology Platform revenue, which raised questions about how broad the company’s growth is across its different business segments.

SoFiUSD and Kraken

SoFi is also expanding its stablecoin business through partnerships. Earlier in September, the company partnered with Payward, the parent company of cryptocurrency exchange Kraken. Under that partnership, Kraken plans to list SoFiUSD and provide additional cryptocurrency liquidity.

This could give SoFiUSD greater access to the crypto market and more potential uses. The Kraken partnership and the new Mastercard settlement system give SoFi two different ways to expand SoFiUSD — through cryptocurrency markets and through everyday payments.

The stablecoin plan could therefore become another part of SoFi’s broader financial services business if payment volume and merchant adoption increase. The company is effectively trying to connect traditional banking, card payments and blockchain settlement through the same system.

Wall Street remains divided on SOFI stock. TipRanks said 17 analysts issued ratings over the past three months: 7 rated it Buy, 7 rated it Hold and 3 rated it Sell. Those ratings result in a Hold, or Neutral, consensus among the analysts tracked by TipRanks. The analysts’ average 12-month price target is $20.67, which TipRanks says represents about 22% upside from Monday’s closing price.

The key growth question for SoFi now is whether its stablecoin strategy can move from an announcement into higher payment volumes, more merchant adoption and additional financial activity. The Mastercard rollout gives SoFi a way to use SoFiUSD in real-world payments rather than keeping the stablecoin limited to the crypto market.

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