SoFi and Mastercard launch settlements in SoFiUSD stablecoin

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SoFi expands Mastercard partnership with SoFiUSD

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Anastasiia Chabaniuk

03.03.2026

SoFi and Mastercard launch settlements in SoFiUSD stablecoin — SoFi expands Mastercard partnership with SoFiUSD

U.S. fintech company SoFi has expanded its partnership with Mastercard to use its proprietary stablecoin, SoFiUSD, for settlement across the global payments network.

SoFiUSD is a digital token pegged to the US dollar at a one-to-one ratio. It is issued by SoFi Bank, a nationally chartered U.S. bank regulated by the Office of the Comptroller of the Currency (OCC) and insured by the Federal Deposit Insurance Corporation (FDIC). The token operates on the Ethereum blockchain. The Block writes about this.

Under the collaboration, the companies plan to enable card-issuing banks and acquirers — firms that process payments for merchants — to settle transactions in SoFiUSD instead of using traditional fiat transfers. SoFi Bank also intends to settle its own Mastercard credit and debit card transactions in the stablecoin. The goal is to speed up settlement and reduce costs, particularly for cross-border remittances, business-to-business (B2B) payments, and other international transactions. The stablecoin enables near-instant, 24/7 settlement.

Integration into Mastercard’s digital infrastructure

SoFiUSD is also expected to be integrated into Mastercard’s Multi-Token Network, a digital asset platform designed to connect traditional payment rails with blockchain-based assets. The integration aims to improve interoperability between fiat currencies (government-issued money), stablecoins, and tokenized deposits. Galileo, SoFi’s technology platform that serves banks and fintech firms, is expected to be among the first to offer its clients the option to settle card transactions in SoFiUSD.

Why this matters for the market

According to SoFi CEO Anthony Noto, using SoFiUSD within Mastercard’s network will make money transfers faster, cheaper, and safer for businesses globally. Mastercard said the partnership expands real-world use cases for regulated stablecoins and helps integrate digital currencies into global payment infrastructure. The stablecoin market continues to grow. McKinsey estimates that around $30 billion in stablecoins is transacted daily, and issuance doubled in 2025 compared with the previous year.

SoFi expands its crypto strategy

SoFi launched SoFiUSD in December, describing it as the first stablecoin issued by a nationally chartered US bank on a public blockchain. The company states that the token is fully backed by cash reserves and available for immediate redemption.

The move is part of SoFi’s broader push into crypto services, including the ability to buy, sell, and hold digital assets directly within its banking app. The integration of SoFiUSD into Mastercard’s network could mark another step toward broader adoption of stablecoins within the traditional financial system.

Previously, we reported that SoFi Technologies, Inc. has been under sustained selling pressure.

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