SoFi Technologies becomes the first U.S. national bank to integrate a stablecoin directly into its consumer banking platform.
SoFi Technologies has launched SoFiUSD, a dollar-backed stablecoin, inside its banking app for nearly 15 million members. The token is redeemable 1:1 for U.S. dollars and is issued by SoFi Bank, N.A., regulated by the Office of the Comptroller of the Currency.
SoFiUSD is available on Ethereum and Solana blockchains, with full rollout expected by early June. The company said the stablecoin is backed by liquid assets and undergoes regular attestations by an independent U.S.-licensed CPA. This move follows broader industry trends of integrating blockchain for settlement and consumer financial products.
CEO Anthony Noto stated the goal is to combine blockchain speed with the trust of a regulated bank, positioning SoFiUSD as a bridge between digital assets and traditional banking services.