SoFi embeds bank-issued SoFiUSD stablecoin in app

SoFi Technologies has added its SoFiUSD stablecoin to the SoFi mobile app, making the dollar-pegged token available today to the company’s 14.7 million U.S. members. The stablecoin is issued by SoFi Bank, a nationally chartered bank, and initially operates on Ethereum and Solana.

Members can buy, sell, hold and convert SoFiUSD inside the app. Transactions settle on-chain across Ethereum and Solana, and the app provides in‑app custody for the token.

SoFi describes SoFiUSD as fully reserved and engineered for 24/7 settlement. The company said the in-app integration is the first time a U.S. national bank–issued stablecoin has been embedded in a retail banking interface.

The rollout is the initial phase of a broader roadmap. In the coming weeks, SoFi plans to add tokenized deposits with Federal Deposit Insurance Corporation insurance, cross-border transfers, and an integration with the Bullish exchange for institutional clients, the company said.

SoFi also extended a commercial partnership with Mastercard to support SoFiUSD as a settlement currency across Mastercard’s network. Under that arrangement, SoFi Bank plans to settle its own Mastercard-powered credit and debit transactions in SoFiUSD, and Galileo, SoFi’s payments and issuing platform, will offer issuing banks the option to settle card transactions using the stablecoin.

Anthony Noto, SoFi’s chief executive, said: “At SoFi, we believe we can combine the speed and versatility of the blockchain with the trust of a bank to improve how money moves around the world. People no longer have to choose between blockchain technology and regulated banking products. With SoFiUSD, we're giving our members a single place to buy, hold, and pay with digital assets in the same app they already use to save, spend, borrow, and invest.”

The company said the integrated offering could support consumer payments, custody services and enterprise integrations, and that it expects to expand settlement options and merchant acceptance over time.