SoFi has launched its U.S. dollar stablecoin SoFiUSD inside the SoFi app, opening access to 14.7 million members. Users can now buy, sell, hold, and convert the token from within the banking app, keeping those functions inside SoFi’s existing consumer platform rather than moving to a separate crypto product.
Live on Ethereum and Solana at launch
According to SoFi, SoFiUSD is issued by SoFi Bank and starts on Ethereum and Solana. CEO Anthony Noto said users can manage digital assets in one app, combining banking services with blockchain-based tools in the same interface. The launch places stablecoin functionality directly into a mainstream financial app with an established retail user base.
SoFi described the token as a dollar-pegged asset with 1:1 redemption for U.S. dollars held at SoFi Bank. The company said all outstanding tokens are backed by liquid assets. It also stated that independent CPA attestations will be used to review transparency and reserve support.
Bank-issued structure and expansion plans
SoFi said SoFiUSD is the first stablecoin issued by a U.S. nationally chartered bank. The current rollout covers buying, selling, holding, and conversion, but the company also laid out a broader roadmap. That includes tokenized deposits tied to FDIC insurance coverage and cross-border transfer features designed to run on a 24/7 settlement cycle. SoFi added that more blockchain integrations are planned in later phases.
The company framed this release as the first phase of a larger buildout. SoFiUSD is intended to expand into payments, custody, and enterprise settlement infrastructure, linking banking rails with onchain settlement. On the institutional side, SoFi also plans integration with Bullish exchange to support stablecoin trading and settlement for larger clients.
Links to card and institutional settlement use cases
SoFi also pointed to its earlier collaboration with Mastercard around stablecoin settlement use cases. Its technology platform Galileo was mentioned as a possible path for issuing banks to settle card transactions. In SoFi’s current framing, SoFiUSD is not limited to an in-app asset feature; it sits inside a wider effort to connect regulated banking infrastructure with blockchain settlement rails.