SoFi Just Became the First U.S. Bank to Launch Its Own Stablecoin. Here's Why It Matters.
Will the new stablecoin have a significant impact on revenue?
SoFi Just Became the First U.S. Bank to Launch Its Own Stablecoin. Here's Why It Matters.
Overview
SoFi Technologies (NASDAQ: SOFI) stock has struggled this year, down about 37% year to date despite strong first-quarter earnings and the launch of its own stablecoin, SoFiUSD.
The rollout of SoFiUSD, a bank-issued U.S. dollar stablecoin, marks the first time that a U.S. bank-issued stablecoin is available directly on a banking app.
Details
SoFi stock has gained about 7% since Q1 earnings were released, and it surged after more details on the stablecoin came out in late May. Nonetheless, the stock price remains down big year to date, and its forward P/E has dropped to 28 from 44 at the start of 2026.
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
