SoFi Technologies (SOFI) traded higher Monday, up roughly 3% to $16.64, as buyers leaned into a bullish narrative around SoFi’s push to become a regulated infrastructure provider for enterprises operating across traditional finance and crypto. The latest visible catalyst remains the company’s April 2 rollout of “SoFi Big Business Banking,” which lets enterprise partners manage fiat deposits and crypto-related flows on a single, nationally chartered banking platform.

The product expansion is being treated as a signal that SoFi is trying to widen its addressable market beyond consumer lending and into higher-fee, platform-style revenue streams—an area investors often reward with higher multiples when growth is credible. The timing also lands just ahead of SoFi’s next scheduled earnings report on April 29, 2026, keeping attention on near-term guidance, deposit momentum, and the pace of adoption for new offerings.

SoFi has been trading in a headline-sensitive environment after a March short-seller report revived concerns about credit quality and accounting presentation, which the company has disputed. With short interest elevated and the stock having recently been volatile, even modest incremental optimism around new product traction can amplify day-to-day moves through positioning shifts and potential short-covering—especially into a catalyst window like earnings.