On June 1, SoFi Technologies rose 5.1% overnight, trading at $19.2/share, with trading volume of $1.2348 million. The stock continued its strong momentum following a series of significant positive developments.

On the news front, SoFi recently announced the official launch of its stablecoin SoFiUSD, made available directly to approximately 15 million users through its application. Users can purchase, hold, sell SoFiUSD, or convert it to U.S. dollars. This move marks SoFi's formal entry into the stablecoin space, expanding its digital asset offerings.

Additionally, the company announced the acquisition of Peach, a cloud-native loan management platform with over $2 billion in active loans covering more than 50 institutions. The acquired platform will be integrated into SoFi's Galileo and Technisys ecosystem, further strengthening its B2B infrastructure capabilities. This represents SoFi's third major acquisition this year, underscoring its fintech full-stack expansion strategy. The stock had previously surged over 10% in pre-market trading, reflecting sustained bullish market sentiment.

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