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But we saved everything 🙂.
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.
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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.