Company
SoFi Technologies is a consumer fintech and digital bank offering student/personal loans, banking, credit cards, and investing products.
Robinhood, SoFi and Public offer 3% ACATS matches on Webull portfolios, Crowdfund Insider reported, after a House report cut Webull shares about 19%. The article dates Robinhood's 3% bonus to earlier in the summer and puts SoFi's at $300 per $1,000, so the Webull link is the publisher's inference.
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SoFi Tech Solutions will sponsor and process a Mastercard for Mexico's Orbi that turns customers' crypto balances into fiat at checkout. Where SoFi's SoFiUSD stablecoin sits in each purchase decides who earns on the card.
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Citrini Research's 79-page report argues fee-collecting platforms and protocols could gain more from tokenization than bitcoin or ether. Even if bitcoin and ether set new highs, the report says, there are better ways to bet on tokenization.
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Citizens is returning to unsecured personal lending with loans of up to $35,000 underwritten by Pagaya's AI, American Banker reported. Splitting the origination fee with Pagaya and holding only part of the loans lets the bank offer the product without carrying all of the credit.
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SoFi Bank began settling its Mastercard debit and credit card program in its own SoFiUSD stablecoin on September 22, projecting more than $25 billion a year. The revenue case depends on outside banks buying the service through SoFi's Galileo platform, and none has publicly committed.
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Wells Fargo is in talks to source crypto trading liquidity from Payward, the $21 billion Kraken parent, two people told CoinDesk. A signed contract would let the bank offer crypto execution without building trading infrastructure and would put bank revenue behind Payward's price.
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Navra, the new company of SoFi and Figure co-founder Mike Cagney, raised a $19 million Series A led by Ribbit for a self-custody front end to on-chain yield. Whether banks take it white-label will test if it is a neutral gateway or a sales channel for Figure, which Cagney chairs.
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Kraken parent Payward is joining Singapore Gulf Bank's SGB Net to settle dollars 24/7 for institutions in Asia and the Gulf. On a network reportedly clearing over $2bn a month, the link may do as much for the bank as for Kraken.
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BNY is in talks with Kraken parent Payward, valued at $21 billion when Nasdaq invested, over a custody, trading and payments partnership, CoinDesk reported. Nothing is signed. One source compares the talks to the infrastructure half of Payward's Nasdaq agreement.
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Fed proposals issued Sept. 24 would set stablecoin rules under the already-enacted GENIUS Act, nine days after the Clarity Act stalled in the Senate. Clarity's unresolved jurisdiction questions still lack a statute, and the SEC's crypto task force leader, Hester Peirce, leaves Oct. 2.
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Apollo chief economist Torsten Slok warns AI agents could move household cash out of 0.1% checking into accounts paying up to 5%, in near-unison. Banks lend that cash out assuming it stays put, and losing it would take away the cheap base that makes their lending profitable.
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Binance paid $100 million for 1,237,011 Circle shares and signed a five-year USDC agreement whose incentive fee is a percentage of balances held in Circle's wallet product. The filing does not disclose the percentage.
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The FDIC's annual deposit report puts SoFi Bank 47th in the country at $46.8 billion, double its total two years earlier. Chime is holding its own balance sheet under $10 billion to keep uncapped interchange.
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Economists at BCG put the oldest Gen Z workers at a median $42,000 in constant dollars, 25% above Millennials at the same age, and date the year the young became gloomier than the old to around 2025.
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Citi's live dollar transactions with First Abu Dhabi Bank and OCBC, and SoFi's tie-up with Kraken's parent, both removed a cutoff time, which leaves CFOs deciding what software may release at 2am Sunday.
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Up to 2% back on spending from 600-plus balances cannot be paid for out of capped debit interchange. That tells you what Kraken is actually buying.
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The interesting work in SoFi's AI financial guide is account context, memory and escalation rules. The engagement figure it shipped with has no published denominator.
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