SoFi Technologies And Mastercard Announce Launch Of Stablecoin Settlement With SoFiUSD On Mastercard’s Global Payments Network

As part of the launch, SoFi Bank is migrating its entire $25 billion card program to stablecoin settlement of transactions using SoFiUSD, the first stablecoin issued by a nationally chartered bank. Transactions are live on the blockchain today.

The launch expands how card issuers, acquirers and merchants can manage settlement and liquidity through trusted payment infrastructure, while providing a path to broader adoption of bank issued stablecoins in payments. It also highlights how bank issued stablecoins can operate alongside existing payment infrastructure, helping bridge traditional financial systems and blockchain-based networks.