SoFi is moving its entire $25B card program to blockchain-based settlement through SoFiUSD, with transactions already live onchain 💳
The stablecoin is issued by SoFi Bank, an OCC-regulated national bank, and is fully redeemable 1:1 for U.S dollars 🏦
The card program is expected to process more than $25B in annualized volume through SoFiUSD, creating a major real-world payment use case for stablecoins 📈
Merchants do not need to hold stablecoins or build new infrastructure, as settlement funds can reach their SoFi Bank accounts directly.
The initiative expands SoFi's blockchain payments strategy while giving Mastercard another live stablecoin settlement use case beyond pilot programs.
SoFi is also exploring cross-border payments and remittances with Mastercard, alongside discussions with major U.S merchants 💰
The move shows stablecoins increasingly being integrated into existing payment networks rather than operating separately from traditional finance ⚡
Today's Pill - stablecoins are moving deeper into everyday payment infrastructure, with banks, fintechs and global networks increasingly using blockchain for settlement at scale 🔄
The stablecoin is issued by SoFi Bank, an OCC-regulated national bank, and is fully redeemable 1:1 for U.S dollars 🏦
The card program is expected to process more than $25B in annualized volume through SoFiUSD, creating a major real-world payment use case for stablecoins 📈
Merchants do not need to hold stablecoins or build new infrastructure, as settlement funds can reach their SoFi Bank accounts directly.
The initiative expands SoFi's blockchain payments strategy while giving Mastercard another live stablecoin settlement use case beyond pilot programs.
SoFi is also exploring cross-border payments and remittances with Mastercard, alongside discussions with major U.S merchants 💰
The move shows stablecoins increasingly being integrated into existing payment networks rather than operating separately from traditional finance ⚡
Today's Pill - stablecoins are moving deeper into everyday payment infrastructure, with banks, fintechs and global networks increasingly using blockchain for settlement at scale 🔄