SoFi Reports $161.6M in Q3 Crypto Revenue, Retains $1.6M After Costs
Edited by Steinar Vigdel Kolnes, Editor, Oslo
SoFi reported $161.6 million in third-quarter gross crypto transaction revenue, with $1.6 million remaining after transaction costs.
SoFi Technologies disclosed Tuesday that its cryptocurrency operations brought in $161.6 million in gross transaction revenue in the third quarter. After transaction costs, the business retained $1.6 million.
That leaves roughly 1% of gross crypto transaction revenue after those costs. The figure does not, on its own, establish the cryptocurrency business’s overall profitability.
The crypto results accompanied record revenue across SoFi’s broader business, strong growth in loan originations and a membership base of 17.1 million. The financial services company trades on Nasdaq under the ticker SOFI.
Source: Bitcoin.com News
