PANews reported on January 30th that, according to The Block, SoFi Technologies, one of the largest online lending institutions and a fintech company in the US, saw its revenue surpass $1 billion for the first time in the fourth quarter, with profits reaching $174 million, driven by the expansion of its cryptocurrency business. The company stated that it added 1 million new members in the fourth quarter, a record high, bringing its total membership to 13.7 million, a 35% increase year-over-year.

This San Francisco-based lending institution recently became the first nationally chartered bank to launch consumer cryptocurrency trading, and subsequently launched the SoFiUSD stablecoin and blockchain-integrated remittance service in more than 30 countries.

Previously, it was reported that SoFi, a national bank in the United States, launched a stablecoin for the US dollar, SoFiUSD, which is now available on the Ethereum blockchain.