SoFi is expanding the blockchain footprint of its stablecoin months after introducing the token as part of a broader payments infrastructure strategy. The move adds Solana to an initial Ethereum deployment and ties the bank's crypto offering more closely to lower-cost, faster settlement use cases.
Highlights
- SoFi Technologies will issue SoFiUSD on Solana, following its December 2025 launch of the stablecoin by SoFi Bank.
- The Solana rollout reflects SoFi's multi-chain strategy focused on payment efficiency, with Solana chosen for lower costs and faster settlement.
- SoFi extended its Mastercard partnership last month to use SoFiUSD as a settlement currency, aiming to expand its role in global digital payments infrastructure.
Solana rollout supports payments strategy
The Block reported that SoFi Technologies says it will begin issuing SoFiUSD on Solana after formally launching the stablecoin late last year. Ben Reynolds, SoFi's head of big business banking, says the company views Solana as the right chain for payments because of cost, settlement speed and throughput.SoFi launched SoFiUSD in December 2025 as a fully reserved U.S. dollar stablecoin issued by SoFi Bank, a nationally chartered bank. The company says the product is designed to position the bank as a stablecoin infrastructure provider for banks, fintechs and enterprise platforms.
Broader network expansion and market implications
SoFi initially deployed the stablecoin on Ethereum and says it plans to extend the token to other networks over time. The addition of Solana signals a multi-chain approach aimed at improving transaction efficiency for payment flows.Last month, SoFi also extended its partnership with Mastercard to position SoFiUSD as a settlement currency across the global payments network. That step suggests the bank is seeking a larger role in digital dollar settlement as financial institutions and payments companies explore stablecoin-based infrastructure.
Our earlier analysis of Mastercard (MA) highlighted that the stock remained under medium-term selling pressure despite holding long-term support, with indicators pointing to a largely rangebound outlook. We also noted Mastercard’s stronger quarterly results and its moves to expand digital-asset and compliance capabilities, while flagging that regulatory scrutiny and geopolitical risks could continue to shape the company’s payments-related risk profile.
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