Polygon Labs said SoFiUSD is live on its Open Money Stack, adding Polygon to the Ethereum and Solana networks where the token already runs. SoFiUSD is a payment stablecoin, not a bank deposit; it is not FDIC- or SIPC-insured, bank-guaranteed or legal tender.
SoFi’s more than 17 million members can buy, sell, hold and convert SoFiUSD on Polygon in the SoFi app without a separate crypto wallet or manual transfers between chains. Issued by SoFi Bank, the token is redeemable one-to-one for U.S. dollars.
