SoFi (SOFI) Stock Surges as Digital Bank Makes Crypto Comeback Play

TLDR

Table of Contents

SoFi Technologies (SOFI) is returning to cryptocurrency trading after a 2-year exit, launching crypto services and blockchain-powered international remittances
The stock has gained 21% over one month and 142% over the past year, driven by strong customer growth and revenue expansion
SoFi plans to offer crypto trading, stablecoin services, and the ability to borrow against crypto assets to its customers
Wall Street analysts remain divided with a Moderate Buy rating, citing growth potential but expressing valuation concerns
The company’s Q1 2025 revenue grew 20% with 800,000 new member additions, though some analysts want growth expectations lowered

SoFi Technologies is making its return to the cryptocurrency market after pulling out two years ago due to regulatory pressures. The digital banking platform announced Wednesday it would reintroduce crypto trading and launch blockchain-powered international remittances.

The fintech company exited crypto in November 2023 as a condition of receiving its bank charter under stricter regulations. Now, with eased regulations under the Trump administration, SoFi is betting big on digital assets again.

CEO Anthony Noto expressed excitement about the innovation potential across the company’s businesses. He said SoFi’s planned international payments will convert fiat to crypto, transmit via blockchain, and convert back to local fiat.

Very excited about the innovation we can drive via blockchain and crypto across our businesses. @Sofi ‘s planned new international payments (frequently called remittances) will convert fiat to crypto, transmit via blockchain, and convert to local fiat. It's only day 1 of the type… https://t.co/KIIyXMEHJo
— Anthony Noto (@anthonynoto) June 25, 2025

The stock has responded well to the company’s overall performance. SOFI shares have climbed 21% over the past month and an impressive 142% over the past year.

Strong Financial Performance Fuels Growth

SoFi delivered solid first-quarter 2025 results with 20% revenue growth. The company added 800,000 new members during the quarter, showing continued expansion in its customer base.

The timing aligns with projections for the fintech blockchain industry. Market research suggests the sector will grow from $3.4 billion in 2024 to $49 billion by 2030.

SoFi customers will soon be able to buy, sell, and hold crypto assets directly in their accounts. The company plans to expand into stablecoin offerings and eventually allow customers to borrow against their crypto holdings.

The firm’s Galileo finance platform will also support third-party crypto infrastructure. This includes wallets and custody services, positioning SoFi to compete in the evolving digital finance space.

Analyst Views Mixed Despite Performance

Wall Street analysts remain split on SoFi’s prospects despite the strong stock performance. The consensus rating sits at Moderate Buy with seven Buy recommendations, five Holds, and three Sells.

Stephens analyst Kyle Joseph initiated coverage with a $20 price target this month. The analyst highlighted SoFi’s diversified growth platform and believes the company’s shift to fee-based revenues will drive multiple expansion.

Joseph specifically praised SoFi’s “productivity loop” and funding advantages. He views these as key factors that insulate the company from economic challenges and intense competition.

However, Truist analyst Matthew Coad assigned a Hold rating with a $14 price target. Coad expressed mixed feelings about the fintech company’s outlook.

While bullish on SoFi’s Financial Services segment, Coad believes growth expectations for 2026 and 2027 need adjustment. He’s concerned that credit risks aren’t fully reflected in the current stock valuation.

Bank of America analyst Mihir Bhatia maintains a Sell rating despite acknowledging strength in the Financial Services business. His bearish stance centers on valuation concerns.

The average analyst price target of $14.05 suggests 11.4% downside risk from current trading levels. This creates an interesting dynamic given the stock’s recent strong performance.

SoFi stock has gained approximately 12% over the past week according to recent market data. The company’s return to crypto services comes as stablecoin legislation makes its way through Congress and banking regulations continue to ease.

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