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SoFi Technologies' Crypto Push: Can it Boost Tech Solutions Growth?

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Key Takeaways

  • SoFi Technologies, Orbi and Mastercard are launching cards that let Orbi users spend crypto or fiat balances.
  • SoFi Tech Solutions will provide BIN sponsorship, card issuance, processing and compliance for Orbi.
  • SoFi's MxDS link to support card purchases and ATM withdrawals; partners plan to explore SoFiUSD transfers.

SoFi Technologies’ (SOFI - Free Report) business arm, SoFi Tech Solutions, has partnered with Mexican fintech Orbi and Mastercard to launch a crypto-linked card in Mexico. The program will allow Orbi customers to spend either traditional money or cryptocurrency balances wherever Mastercard is accepted, with merchants receiving fiat currency after conversion at checkout.

Under the agreement, SoFi Tech Solutions, formerly Galileo, will provide bank identification number (BIN) sponsorship alongside card issuance, transaction authorization, processing and compliance technology. Orbi will be its first cryptocurrency-focused customer under the Mastercard BIN sponsorship program in Mexico. Both physical and virtual cards will be supported.

SoFi Tech Solutions’ connection to Mastercard’s Mexico Domestic Switch (MxDS) will support card purchases and ATM withdrawals. The partners also plan to explore stablecoin-based cross-border transfers using SoFiUSD. Demand for dollar-linked stablecoins is growing in Latin America. Bitso said stablecoins accounted for 40% of its users’ crypto purchases across Mexico, Argentina, Brazil, and Colombia in 2025, compared with 18% for bitcoin.

The expansion follows SoFi’s September announcement that SoFiUSD settlement has gone live for SoFi Bank’s debit and credit card transactions on Mastercard's global payments network. SoFi Bank is migrating its entire card program to blockchain-based settlement using SoFiUSD. The stablecoin is redeemable one-for-one for U.S. dollars and backed by reserves consisting primarily of cash.

On the financial front, SoFi’s Technology Platform segment reported mixed results in the second quarter of 2026. The segment generated revenues of $84.5 million, down 23% year over year, although it increased 13% sequentially. The platform supported about 135 million accounts at quarter-end. While the partnership may not immediately reverse the segment’s revenue decline, it could support longer-term Tech Solutions growth.

How Are Competitors Faring?

Robinhood Markets (HOOD - Free Report) is accelerating its cryptocurrency expansion through targeted acquisitions. In June 2026, it completed the purchase of Canada's WonderFi, gaining two regulated trading platforms and strengthening its position in Canada. The deal builds on its earlier Bitstamp acquisition, adding international scale. WonderFi's purchase consideration totaled approximately $178 million.

PayPal Holdings (PYPL - Free Report) is rapidly expanding its stablecoin ecosystem through strategic partnerships. In September 2026, it joined M0 and MoonPay to launch PYUSDx, enabling businesses to create customized stablecoins backed by PayPal USD. This initiative broadens PayPal's reach beyond consumer payments. The platform reported approximately $100 million in processed volume.

SOFI’s Price Performance, Valuation and Estimates

Shares of SOFI have decreased 15.3% in the past three months, underperforming the broader industry and the S&P 500 Index.

 

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Image Source: Zacks Investment Research

 

From a valuation standpoint, SOFI trades at a forward price-to-earnings ratio of 20.61X, well above the industry’s 15.15X. It carries a Value Score of F.

 

Zacks Investment Research
Image Source: Zacks Investment Research

 

The Zacks Consensus Estimate for full-year 2026 EPS remained unchanged at 60 cents over the past two months.

 

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Image Source: Zacks Investment Research

 

SOFI stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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