Yulia Slavina

SoFi transitions card settlements to stablecoins with Mastercard, Simon Taylor confirms

SoFi transitions card settlements to stablecoins with Mastercard, Simon Taylor confirms
SoFi leverages stablecoins for card settlement

Simon Taylor, co-founder at 11:FS, reports that SoFi has migrated its entire $25 billion card program onto stablecoin settlement with Mastercard.

According to Taylor, SoFi Bank, N.A. holds a national charter, is regulated by the OCC, and issues its own stablecoin, SoFiUSD. From today, both its debit and credit transactions are settled using this system.

Taylor has previously highlighted Anthropic’s push to build in-house billing and treasury technology, positioning it as a potential competitor to established providers like Stripe in a recent report. He also covered Split Pay’s $125 million fundraising for its rent float feature, which addresses timing issues between wages and bill payments, in a separate article. Both topics reflect Taylor’s ongoing focus on payments innovation and infrastructure developments in the financial services sector.

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