SoFi USD
Overview
SoFiUSD is a bank-issued dollar stablecoin from SoFi Bank, N.A., launched in December 2025 for enterprise partners and opened to SoFi’s app users in May 2026. Its main significance is the category it represents: a US national bank issuing its own settlement-grade stablecoin instead of relying on Circle or Paxos.
Mastercard listing SoFiUSD alongside USDC and PYUSD suggests card networks will treat bank-issued and fintech-issued regulated coins interchangeably in settlement, as long as reserve and redemption standards match.
Card-network settlement support
Included in Mastercard’s June 2026 settlement set; since 22 Sep 2026 SoFi Bank settles its own Mastercard card programme in SoFiUSD — an example of a US bank issuing its own settlement-grade stablecoin.
Regulation & reserves
Fully USD-backed, redeemable 1:1 (issuer disclosures).
Chain deployments
| Chain | Standard | Final after | Contract / asset identifier |
|---|---|---|---|
| Ethereum | ERC-20 | ≈ 13–19 min | Live per SoFi / CoinDesk (May 2026); contract address and decimals not independently verified yet — check SoFi’s issuer documentation. |
| Solana | SPL | ≈ 13 s | Live per SoFi / CoinDesk (May 2026); mint address not independently verified yet. |
Always verify contract addresses against the issuer’s official documentation before use — lookalike tokens with identical symbols are a common scam vector.