SoFi Bank has fully enabled transactions and settlements for its proprietary stablecoin SoFiUSD on the Mastercard network.
1 hours ago
SoFi Bank announced it has fully deployed its proprietary stablecoin SoFiUSD for transaction settlement on the Mastercard network, becoming the first U.S. national bank to implement this model. SoFi launched SoFiUSD in December 2025, opened it to users in May this year, and the partnership between the two parties was unveiled in March this year. SoFi noted that migrating its entire credit card business to stablecoin settlements is projected to drive an annual transaction volume of over $25 billion. Radi El Haj, CEO of RS2, said the partnership marks the shift of stablecoin settlement from the pilot phase to large-scale practical application, adding that changes to the settlement layer will not affect the existing card payment experience for consumers and merchants.
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