SoFi's second-quarter crypto trading revenue reached $134.3 million, with a net income of $1.2 million after deducting costs.

SoFi's second-quarter crypto trading revenue increased by 10% quarter-over-quarter to $134.3 million. After deducting trading costs of $133.1 million, net revenue was $1.2 million, up from approximately $850,000 in the first quarter. The crypto business accounted for a small portion of the company's $1.2 billion adjusted net revenue for the quarter. During the same period, SoFi's Galileo business began processing 24/7 commercial payments through SoFiUSD. The stablecoin is now available to bank app users and supports buying, selling, holding, and exchanging on Ethereum and Solana.