SoFi Shares Rise Following Launch of Bank-Issued Stablecoin Card Settlement Network

2026-09-22 companies

San Francisco, Tuesday, 22 September 2026.
SoFi Bank became the first national bank to launch live stablecoin settlement across Mastercard’s global network, migrating its $25 billion card program to blockchain infrastructure using SoFiUSD.

Stablecoin Settlement Launch Drives Tuesday Rally

SoFi Technologies Inc. (NASDAQ: SOFI) shares surged on Tuesday, 22 September 2026, as Wall Street analysts revised earnings expectations following the live launch of stablecoin settlement across its card program [1]. The digital banking platform confirmed that stablecoin settlement is now active through Mastercard’s global payments network, marking a significant milestone for blockchain integration in traditional banking [2]. While shares traded roughly flat on Monday amid broader crypto market movements, the Tuesday announcement catalyzed a 5% increase in stock price by the morning session [1][4]. This movement contrasts with the previous day’s trading, where shares hovered around $16.95 despite Bitcoin trading near $85,000 [4]. The launch involves migrating SoFi Bank’s entire $25 billion card program to blockchain-based settlement using SoFiUSD, the first stablecoin issued by a nationally chartered bank [2]. Merchants on the Big Business Banking platform can now receive settlement funds instantly in a SoFi Bank account, withdrawable to cash 24/7 at zero cost [2].

Financial Performance and Revenue Growth Analysis

The market optimism is underpinned by robust financial performance reported in recent quarters, with Q2 2026 adjusted net revenue reaching a record $1.2 billion [1]. This figure represents a 40% year-over-year increase, highlighting the company’s capacity for scaling amidst competitive pressures [1]. Historical data indicates a compound growth trajectory, with revenue expanding from $1.6 billion in 2022 to $3.6 billion in 2025 [6]. The calculated growth rate over this period is 125 percent, demonstrating substantial expansion prior to the current fiscal year [6]. Additionally, Q2 2026 membership reached 15.8 million, with lending adjusted net revenue increasing by 59% during the same period [1]. Despite this growth, the stock had declined 31% year-to-date prior to September 2026, indicating a potential valuation correction before this recent rally [1]. Net interest margin remains strong at 5.98%, roughly double that of traditional branch banks, supporting profitability claims [7].

Analyst Consensus and Market Sentiment

Wall Street analysts have responded to the developments with a mix of caution and optimism, resulting in a consensus rating of Hold based on 17 ratings collected over the three months prior to 21 September 2026 [1]. The breakdown includes 7 Buys, 7 Holds, and 3 Sells, reflecting divided opinion on the company’s immediate trajectory [1]. The average 12-month price target stands at $20.67, suggesting potential upside from recent trading levels around $17.41 [1][3]. Institutional activity also signals confidence, with Nykredit A/S establishing a new position in the second quarter comprising approximately 312,985 shares [5]. However, some market sentiment indicators show a 71% Sell rating against 29% Buy, citing risks such as negative operating cash flow and credit exposure [6]. Management has raised the 2026 revenue outlook but maintained an earnings forecast of $0.60 per share, noting weakness in Technology Platform revenue [1].

Strategic Outlook and Risk Factors

Looking ahead, SoFi expects annualized payment volume using SoFiUSD to exceed $25 billion as it engages in discussions with large U.S. merchants for broader commercial finance usage [1]. The partnership with Mastercard was originally announced in March 2026, taking six months to move from concept to live product [2]. While the stablecoin initiative promises efficiency, stakeholders must consider risk factors including the evolving regulatory environment for digital assets and compliance complexities [2]. Investors are also monitoring the company’s next quarterly earnings report, estimated for late October 2026, for further validation of these growth strategies [5]. [alert! ‘Specific timeline for merchant onboarding discussions remains undefined in source material’]. The integration of blockchain card settlement extends the stablecoin into payments and financial services, potentially setting a benchmark for consumer credit quality in the United States economy [1].

Sources

Fintech SoFi Technologies