SoFi’s crypto relaunch brought in $121.6 million in Q1. Almost all of it went to costs
The company launched the SoFiUSD stablecoin for enterprise payments in December and partnered with Mastercard for settlement capabilities.
SoFi's substantial costs from the crypto relaunch may lead to bearish sentiment in the short term, as investors assess the sustainability of the business model. However, the partnership with Mastercard could provide long-term growth potential.
The company launched the SoFiUSD stablecoin for enterprise payments in December and partnered with Mastercard for settlement capabilities.
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