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Key Takeaways: SoFi announced the creation of SoFiUSD, the nation’s first stablecoin directly through a U.S. national bank within a banking app. The stablecoin operates on both the Ethereum and Solana networks and allows for a 1:1 dollar redemption, alongside 24/7 transfers. SoFi also wants to take the plunge into FDIC insured tokenized deposits, cross border payments and institutional trading. SoFi is one of the more significant steps in the banking vs crypto wall. The gigantic fintech firm has officially unveiled its stablecoin SoFiUSD, which comes paid in dollars and offers to bring web based payments into the mainstream banking system. It is an implementation that will enable virtually 15 million SoFi members to access a bank-issued digital dollar within their existing savings, investing, loan and payment app. SoFi Pushes Banking Deeper Into Crypto Issuer of SoFiUSD is SoFi
The launch of SoFiUSD by a US national bank could reshape the stablecoin market, enhancing trust and regulatory compliance in digital finance.
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Mastercard Transaction Services (U.S.) LLC received a BitLicense from NYDFS, entering regulated crypto operations in New York. The approval supports Mastercard’s strategy to engage with stablecoins and tokenized deposits within compliant payment infrastructure. Mastercard’s chief product officer cited regulatory clarity as central to building trust in digital asset payment systems. Mastercard has secured a BitLicense […]
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The post SoFi brings bank-issued stablecoin to 15 million users in crypto push appeared on BitcoinEthereumNews.com.
SoFi has rolled out its dollar-backed stablecoin, SoFiUSD, to users of its banking app, becoming the first U.S. national bank to offer a stablecoin directly to retail customers on a public blockchain. The company said Wednesday that nearly 15 million members will be able to buy, sell, hold and convert SoFiUSD within the SoFi app. The stablecoin is available on Ethereum (ETH) and Solana (SOL) and is redeemable 1:1 for U.S. dollars through SoFi Bank. The launch marks a broader push by banks into blockchain-based payments as lawmakers and regulators move closer to establishing rules for stablecoins in the U.S. Stablecoins are digital tokens designed to maintain a fixed value, usually pegged to the dollar. The market is currently dominated by crypto-native issuers Tether’s USDT and Circle’s USDC, which are widely used in crypto trading and decentralized finance. SoFi said it
SoFi launched SoFiUSD, a bank issued dollar stablecoin available inside its app with Ethereum and Solana support.
The post SoFi brings SoFiUSD to nearly 15 million users with Ethereum and Solana support appeared first on Crypto Briefing.
Payments giant Mastercard has secured New York’s BitLicense, one of the toughest regulatory approvals, to advance its digital assets strategy and expand its stablecoin and tokenized deposits infrastructure. Related Reading: UK Targets HTX, Russia-Linked Crypto Firms Amid Crackdown On Sanction Evasion Mastercard Wins Major Regulatory Approval On Wednesday, Mastercard announced that its subsidiary Mastercard Transaction […]
SoFiUSD, first launched in December for enterprise clients, is now live inside the SoFi app — making it the first stablecoin issued by a US national bank available directly on a consumer banking platform.
