SoFi Bank Launches First U.S. National Bank-Issued Stablecoin
- SoFiUSD was launched on May 27, making it the first stablecoin issued by a U.S. national bank available on a banking app.
- Nearly 15 million SoFi members can now buy, hold, and convert SoFiUSD on Ethereum and Solana networks.
- SoFi plans to introduce FDIC-insured tokenized deposits and enable cross-border transfers using the stablecoin within weeks.
- Partnership with Bullish exchange will soon allow institutional traders access to SoFiUSD.
SoFi Bank has launched SoFiUSD, a stablecoin designed to maintain a one-to-one value against the U.S. dollar, providing members with blockchain technology integration within their existing banking app.
This launch positions SoFi ahead of traditional finance banks in offering regulated stablecoin access at scale, as U.S. policymakers discuss federal legislation on stablecoins. (Source)
