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SoFi's $25 Billion Stablecoin Push Could Change Its Growth Story

2026-10-08 10:33 •Rick Orford •The Motley Fool Neutral Axe Cap view: Selective •Equities•Earnings •SOFI

Axe Cap view

SoFi's Stablecoin Bet: A Long Shot for Growth

SoFi’s push into stablecoins might reshape its business, but the path to profit remains uncertain.

SoFi is betting big by routing $25 billion in card volume through its own stablecoin, SoFiUSD. This could reduce reliance on traditional payment networks and open new revenue streams from fees, deposits, and tech services. However, the biggest question is whether they can scale this infrastructure profitably and attract outside businesses to use it. For South African investors, this highlights why stablecoins and fintech innovation are worth watching, but the JSE hasn’t seen a direct equivalent yet. Our local fintechs like Capitec and Standard Bank are experimenting with digital payments and blockchain, but none have ventured this far into payment rail ownership. The rand’s sensitivity to global fintech trends means USD/ZAR could react to any major success or failure overseas. Given the unproven economics, it’s best to watch SoFi from the sidelines. If their model scales, it could inspire local banks to accelerate digital innovation, but that’s still a big if. this is just our opinion and not financial advice

How I would invest

Avoid SoFi for now given uncertainties around stablecoin adoption and profitability. Keep an eye on USD/ZAR as an indirect play on global fintech shifts, and watch local banks for meaningful moves into digital payments.

What I would watch
  • SOFI
  • USD/ZAR
  • Standard Bank
  • Capitec
What could go wrong
  • Stablecoin adoption fails to scale
  • Regulatory hurdles tighten fintech innovation
How strongly I feel

5/10

SoFi is redirecting over $25 billion in annualized card volume toward SoFiUSD settlement. The company's growth potential depends on whether this stablecoin infrastructure can attract external businesses and generate recurring fees, deposits, reserve income, and technology revenue. Success will require proving that the economics can scale profitably.

Our take is based on reporting first published by The Motley Fool.

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