SoFi launches stablecoin card settlement on Mastercard, targeting $25B a year
- —SoFiUSD is fully reserved in cash and equivalents, regulated by the OCC, and redeemable 1:1 for US dollars
- —The stablecoin runs on Ethereum and Solana, enabling around-the-clock settlement
- —SoFiUSD had roughly $300 million in circulation by the end of Q2 2026
- —SOFI shares climbed nearly 5% on the day of the announcement
Why it matters: A major bank's live stablecoin settlement on Mastercard could accelerate stablecoin adoption in mainstream payments.
Source: Crypto Briefing
More on this
Exchanges · Sep 25SoFi Bank moves entire Mastercard card network to stablecoin settlement with SoFiUSD
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Exchanges · Sep 23SoFi Becomes First US National Bank to Settle Card Payments in Its Own Stablecoin