SoFi Technologies reported record third-quarter 2026 results earlier on Tuesday, and the company's crypto business ended the period with 503,070 products. At the time of writing, SoFi shares were up 14.59% on the day at $16.56, and the lender simultaneously raised its full-year guidance.

SoFi returned to crypto investing in the fourth quarter of 2025, when it became the first U.S. nationally chartered bank to offer retail crypto trading.

Despite the growth, crypto remains a small contributor to the bottom line. Crypto transaction revenue totaled $161.6 million in the quarter, but the cost of that revenue reached $160.0 million, leaving net crypto transaction revenue of $1.6 million—about 1% of gross crypto revenue—or 0.1% of total net revenue. SoFi earns a fee on each buy and sell order, while the bulk of gross volume flows through as cost. For the first nine months of 2026, net crypto transaction revenue totaled $3.7 million on $417.5 million in gross revenue.

Per the company, member trading picked up in September. Members placed 218,469 trades, a 14% increase from August's 191,359. Buy trades rose 18% to 133,937, and sell trades rose 8% to 84,532. Buy volume reached $33.8 million and sell volume reached $39.1 million. Members placed 25 trades of $100,000 or more, and Bitcoin led trading volume with a 39% share.

New traders drove much of the activity: 44% of September traders made their first-ever trade that month, 20% had traded before but not in August, and 36% traded in both months.

SoFi Crypto also skews younger. The company said 43% of its crypto members are millennials, born between 1981 and 1996, and the median member age is 36.

On the stablecoin front, SoFi became the first national bank to go live with stablecoin settlement across Mastercard's global payments network. It is the company's second national-bank first in crypto, following its retail trading relaunch in late 2025.

A Record Quarter Beyond Crypto

Setting crypto aside, SoFi beat Wall Street expectations for the third quarter. The company earned $0.18 per share on an adjusted basis, topping the Zacks Consensus Estimate of $0.17 and rising from $0.11 a year earlier. Revenue reached $1.37 billion, 9.08% above consensus and up from $949.63 million a year ago.

SoFi has beaten consensus EPS estimates three times over the last four quarters and topped revenue estimates in all four. Even so, shares have fallen 44.8% this year, while the S&P 500 gained 12.1%.

Zacks currently rates the stock Rank #3 (Hold), which signals performance in line with the market. Analysts expect $0.20 per share on $1.32 billion in revenue next quarter and $0.60 per share on $4.87 billion for the full year—the yardstick against which the company's newly raised guidance can be compared.

Founded as a student loan refinancing startup, SoFi has evolved into a full-scale financial services platform offering products ranging from IPO investing to credit cards and high-yield savings accounts. The company has a market cap of $21.5 billion.

This article first appeared on Bitcoin Magazine and is written by Micah Zimmerman.