SoFi Technologies Shares Rise on Stablecoin Launch
By Katherine Hamilton
SoFi Technologies shares rose after the company said it would start offering a U.S. dollar stablecoin.
The stock rose 5% to $26.54 on Thursday, and is up 72% this year.
The financial services company said it would offer SoFiUSD, which is issued and backed with 1:1 cash reserves and would enable settlement across a blockchain around the clock.
The stablecoin would be used for international remittances and everyday consumer point-of-sale purchases, SoFi said.
Analysts see stablecoin as a potentially significant source of revenue for financial institutions.
Visa launched a stablecoin settlement in December of this year, and analysts think it represents a growth opportunity. Stablecoin is expected to be used more for cross-border business-to-business transactions at Visa, Bank of America analysts said in a note earlier in November.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
December 18, 2025 11:36 ET (16:36 GMT)
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