SoFi reported 503,070 crypto products at the end of September and $1.633 million in net cryptocurrency transaction revenue for the third quarter of 2026. The figures, disclosed October 27 in the company’s earnings release, offer a clearer view of its revived digital asset business.
SoFi’s official quarterly report lists $161.606 million in gross crypto transaction revenue and $159.973 million in directly associated costs for the three months ending September 30. Subtracting those costs gives net crypto transaction revenue of $1.633 million. The reporting unit for those tables is thousands of dollars.
Large gross revenue, much smaller net figure
The gross and net numbers describe different economic measures. Gross crypto transaction revenue is offset by the company’s stated cost of that revenue; it should not be described as earnings or profit. The resulting net revenue represented about 1% of the gross amount during the quarter.
SoFi separately reported $3.668 million in net crypto transaction revenue across the first nine months of 2026. The year-to-date total is larger than the third-quarter contribution, but neither number represents a stand-alone net income figure for SoFi Crypto.
The company launched SoFi Crypto in the fourth quarter of 2025. Its earnings materials say this business facilitates customers’ purchases, sales and holdings of digital assets, while its net transaction revenue primarily reflects fees on buy and sell orders.
What 503,070 crypto products actually measures
The reported figure is a count of financial-service products, not an independently confirmed count of unique crypto customers or active traders. SoFi has not provided transaction activity or trading volume for each product in this disclosure.
Companywide, SoFi reported about $1.385 billion in total quarterly net revenue and $240.989 million in net income. The crypto line is therefore one part of a much larger banking and financial-services platform.
BlockBriefing previously covered SoFi’s interest-bearing tokenized deposit initiative. That initiative is distinct from the crypto transaction figures disclosed in the October 27 earnings report.
The next meaningful indicators will be changes in product count, transaction volumes if disclosed, and net revenue after the costs directly tied to customer trading.