SoFi expands digital payments push with SoFiUSD rollout to app users

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SoFi expands stablecoin rollout

Highlights

SoFi launched SoFiUSD, a nationally chartered bank-issued stablecoin, in-app with support for Ethereum and Solana, enabling buy, sell, hold, and conversions.
The rollout initiates SoFi's payments strategy, with upcoming tokenized FDIC-insured deposits, cross-border transfers, and Bullish integration for institutional clients.
In March, SoFi partnered with Mastercard to settle its credit and debit card transactions using SoFiUSD across Mastercard's global network, expanding stablecoin settlement infrastructure.

Stablecoin launch inside SoFi's banking interface

As reported by The Block, SoFi said the initial rollout makes SoFiUSD available directly within its app, which the company describes as the first U.S. national bank-issued stablecoin embedded in a retail banking interface.

The stablecoin initially runs on Ethereum and Solana. Members can buy, sell, hold and convert SoFiUSD within the app, while the company says the product is designed to combine regulated banking infrastructure with onchain settlement rails under one consumer interface.

Chief Executive Anthony Noto says SoFi aims to pair blockchain speed and flexibility with the trust of a bank, allowing users to manage digital assets alongside traditional financial services in one place.

Broader payments and settlement roadmap

SoFi says this rollout is the first phase of a broader plan. In the coming weeks, the company plans to add tokenized deposits with FDIC insurance, cross-border transfers and an integration with Bullish for institutional clients.

SoFi first introduced the stablecoin initiative in December, describing SoFiUSD as a fully reserved digital dollar issued by its nationally chartered bank for 24/7 settlement. The company also says the infrastructure could support white-label stablecoins for banks, fintechs and enterprise partners, or allow direct integration of SoFiUSD into payment and settlement systems.

In March, SoFi extended its partnership with Mastercard to enable SoFiUSD as a settlement currency across Mastercard's global payments network. Under that agreement, SoFi Bank plans to settle its own credit and debit transactions on the Mastercard network in SoFiUSD, while Galileo is expected to offer issuing banks the option to settle card transactions using the stablecoin.

In our earlier analysis of Coinbase’s strategic expansion, we noted that the company was broadening its stablecoin offerings and payment infrastructure while U.S. legislation moved to formalize federal oversight for stablecoins. We also highlighted that this push came alongside an AI-driven restructuring with near-term costs and that COIN remained under technical pressure despite the long-term strategic shift.

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