Driven by the expansion of crypto services, nationwide US bank SoFi's Q4 revenue surpasses $1 billion for the first time

PANews January 30 News, according to The Block, driven by the expansion of cryptocurrency business, one of the largest online lending institutions in the US, fintech company SoFi Technologies, reported that its Q4 revenue first surpassed $1 billion, with a profit of $174 million. The company stated that in Q4, it added 1 million new members, reaching a record high, with a total membership of 13.7 million, a 35% increase compared to the same period last year. This San Francisco-based lending institution recently became the first nationwide chartered bank to launch consumer cryptocurrency trading, and subsequently launched SoFiUSD stablecoin and blockchain-integrated remittance services in over 30 countries. Earlier reports indicate that US nationwide bank SoFi launched the dollar stablecoin SoFiUSD, which is now live on Ethereum.