SoFi Technologies (SOFI) stock declined 1.44% to $15.44 during Thursday's intraday trading, despite unveiling a new partnership in Mexico. The shares dropped $0.22 from the previous close but recovered from midday lows near $15.27.
New Crypto Payment Card Partnership
SoFi Tech Solutions announced on October 8 a partnership with Mastercard and Mexican fintech Orbi to introduce a crypto-linked payment card. The program allows Orbi customers to spend cryptocurrency or traditional funds, with automatic conversion of digital assets into fiat currency at the point of sale. Merchants receive conventional payments through the arrangement.
SoFi Tech Solutions will manage card issuing, transaction processing, authorization, and compliance services. Mastercard provides payment network access for everyday purchases across participating merchants. Orbi customers can access their digital assets through physical and virtual Mastercard cards and withdraw cash through Mexico's domestic payment network.
Stablecoin Demand Drives Regional Expansion
According to Bitso data, stablecoins represented 40% of cryptocurrency purchases across four Latin American markets during 2025, exceeding Bitcoin's 18% share for the first time. SoFi's expansion targets customers seeking to use cryptocurrency for routine financial transactions in Mexico's large remittance market.
SoFi Tech Solutions integrates its SoFiUSD stablecoin into the partnership infrastructure and plans additional stablecoin payment services through its financial technology platform.
Established Financial Infrastructure
SoFi Tech Solutions operates through Galileo and Technisys, bringing more than 30 years of payment processing experience and core banking technology. The platform currently supports nearly 200 financial institution clients, approximately 135 million accounts, and has processed billions of transactions over the past three years, including trillions of dollars in money movement.
