$SOFI BECOMES FIRST U.S. NATIO

$SOFI BECOMES FIRST U.S. NATIONAL BANK TO GO LIVE WITH STABLECOIN SETTLEMENT ACROSS MASTERCARD’S NETWORK

SoFi is moving its full debit and credit card program, expected to process more than $25B in annualized volume, onto blockchain-based settlement using SoFiUSD, which is redeemable 1:1 for U.S. dollars.

Merchants won’t need to hold stablecoins or build new infrastructure. They can receive funds directly into a SoFi Bank account and withdraw them as cash.

SoFi is also in discussions with major U.S. retailers and technology platforms, while it and Mastercard $MA are exploring cross-border payments and remittances next.

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