Bank-Issued Stablecoin Targets 24/7 Payments and Institutional Infrastructure
SoFi has entered the stablecoin market with the launch of SoFiUSD, a fully reserved U.S. dollar stablecoin issued directly by its nationally chartered bank. The move positions the company as a provider of blockchain-based settlement infrastructure for banks, fintech firms, and enterprise platforms seeking faster and more transparent payment rails.
SoFiUSD is a 1:1 cash-backed stablecoin issued by SoFi Bank, an OCC-regulated and FDIC-insured institution. The stablecoin is initially deployed on Ethereum, with the possibility of expansion to other blockchains. Reserves are held in cash and maintained for immediate redemption, offering a clear contrast to opaque reserve models that have troubled parts of the stablecoin sector.
The stablecoin is designed to support near-instant, around-the-clock settlement at low cost. Partners can integrate SoFiUSD into payment flows or leverage the platform to issue white-label stablecoins, using SoFi’s bank-grade compliance and custody framework. This structure allows institutions to reduce settlement delays and reliance on fragmented intermediaries.
SoFi plans to deploy SoFiUSD across multiple business lines, including card network settlements, retail payments, remittances, and point-of-sale transactions. The stablecoin is also expected to integrate with SoFi Pay and serve as an alternative payment option for enterprise partners processing high transaction volumes.
The launch reflects a broader shift as regulated financial firms adopt onchain payment technology. By combining a national bank charter with transparent blockchain infrastructure, SoFiUSD aims to deliver a safer, more efficient method of moving money in global financial markets.
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