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SoFi's relaunched crypto business generated $121.6 million in crypto transaction revenue in the first quarter.
SoFi's crypto transaction revenue was $121.6 million in Q1, its first detailed disclosure.
KEY POINTS
- Net crypto transaction revenue was only $852,000 due to almost equal transaction costs.
- SoFi began minting its SoFiUSD stablecoin in Q1 and partnered with Mastercard for settlements.
- SoFi's crypto holdings are minimal and kept solely for operational purposes, not as investments.
- As of March 31, SoFi had 239,509 total crypto accounts, including both active and inactive.
COMPANIES
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