SoFi Technologies Surges 12% on Stablecoin Launch; Robinhood, Upstart Extend Fintech Bounce
- On Friday, May 29, 2026, SoFi Technologies launched SoFiUSD, becoming the first U.S. bank-issued stablecoin with Mastercard settlement integration. Stock surged 12% to around $19.
- SoFi frames SoFiUSD as a 'bank-grade,' 1:1 redeemable U.S. dollar asset on a public blockchain, describing the rollout as a 'strategic entry into digital assets.' Members access it directly via the mobile app.
- SoFi's member count grew 35% in 2025 to 13.7 million, reflecting the firm's strategy of providing low-fee, digital-first products. This positions the company to compete with traditional financial institutions.
- Analysts compare SoFi against Latin American growth engine Nu Holdings, as both firms target technologically native customers. Nu Holdings reports a larger footprint with 131 million customers versus SoFi's 13.7 million.
- Federal Reserve oversight subjects SoFi to strict capital requirements, while the company relies on a limited number of loan purchasers. Competition from massive institutions like JPMorgan Chase compounds these challenges.
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SoFi Technologies vs. Nu: Which Financial Stock Is a Better Buy in 2026?
Key PointsSoFi Technologies is a leading U.S. digital financial platform with a growing member base of nearly 15 million.Nu has achieved explosive growth in Latin America, serving approximately 135 million customers across three countries.Which high-growth fintech stock offers the best value for your investment portfolio in 2026?10 stocks we like better than SoFi Technologies › Are you looking to add a digital banking disruptor to your portfolio…
SoFi Technologies Surges 12% on Stablecoin Launch; Robinhood, Upstart Extend Fintech Bounce
SoFi Technologies (NASDAQ:SOFI | SOFI Price Prediction) stock is ripping in early Friday trading, up 12% to around $19, as investors react to the company’s push into bank-issued stablecoins. The pop builds on a fintech bounce that started earlier this week. The rally is extending across SoFi’s peers. Robinhood Markets (NASDAQ:HOOD) stock is ticking up ... SoFi Technologies Surges 12% on Stablecoin Launch; Robinhood, Upstart Extend Fintech Bounce
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