SoFi Technologies and Mastercard said on September 22, 2026, that stablecoin settlement using SoFiUSD was live across SoFi Bank’s debit and credit card program on Mastercard’s network. SoFi Bank said it was migrating its entire $25 billion card program to that form of settlement; the announcement did not say the migration was complete.
SoFi CEO Anthony Noto said merchants would not need to hold stablecoins or change their systems. He said merchants using SoFi’s Big Business Banking platform could receive settlement funds instantly in a SoFi Bank account and withdraw them as cash around the clock at no cost.
