On May 29, SoFi Technologies rose 7.6% in regular trading, trading at $17.735/share, with trading volume of $454 million. The stock surged on a confluence of major positive developments.

On the news front, SoFi officially launched SoFiUSD, the first stablecoin issued by a US national bank directly within a traditional banking application. The product is available to approximately 15 million members, supporting purchase, holding, sale, and dollar conversion. SoFiUSD is pegged 1:1 to the US dollar, regulated by the OCC, and initially deployed on Ethereum and Solana networks.

Additionally, the company announced the acquisition of cloud-native loan management platform Peach, which manages over $2 billion in active loans across more than 50 institutions. Peach will be integrated into SoFi's Galileo and Technisys infrastructure, strengthening its B2B capabilities. This marks SoFi's third major acquisition this year, following PrimaryBid and Composer Securities, underscoring its full-stack fintech expansion strategy.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)