SoFi Technologies Advances Stablecoin Settlement With Mastercard

SoFi Technologies and Mastercard revealed Tuesday that they will enable settlement using SoFiUSD across Mastercard’s global payments network, marking a new step in the integration of regulated U.S. dollar stablecoins into mainstream card infrastructure.

OCC-Regulated SoFi Bank Launches Stablecoin Settlement With Mastercard

The partnership will allow issuers and acquirers to settle card-based transactions using SoFiUSD, a fully reserved U.S. dollar stablecoin issued by SoFi Bank, N.A., an OCC-regulated insured depository institution. SoFi’s (Nasdaq: SOFI) release shared with Bitcoin.com News explained that the initiative is designed to support faster settlement options, including cross-border remittances and business-to-business transfers.

SoFiUSD is described as a stablecoin asset offered by a U.S. nationally chartered and insured deposit bank on a public, permissionless blockchain. The token is backed 1:1 by cash and is intended to provide immediate redemption capability, offering liquidity to merchants and financial institutions operating on the Mastercard network.

The stablecoin is also expected to be supported on Mastercard’s Multi-Token Network, a digital asset platform aimed at connecting traditional forms of money with blockchain-based assets. The companies disclosed that the integration is intended to enhance interoperability among fiat currencies, stablecoins and tokenized deposits while expanding settlement choices for financial institutions.

At 11:58 a.m. EST on Tuesday, SOFI shares were up a percentage point.

As part of the arrangement, SoFi Bank, N.A. plans to settle its own credit and debit transactions conducted on the Mastercard network in SoFiUSD. Galileo, SoFi’s technology platform, is expected to be among the first to provide its payment card clients and issuing banks with the option to settle transactions using the stablecoin.

On Tuesday, Anthony Noto, CEO of SoFi, remarked that the initiative reflects the company’s broader strategy to incorporate stablecoins into digital commerce. “With SoFiUSD as a settlement currency across Mastercard’s network, card issuers and acquirers can more easily enable the millions of businesses they serve around the globe to instantly settle transactions, 24 hours a day, 7 days a week,” Noto said.

Sherri Haymond, Mastercard’s global head of digital commercialization, said enabling stablecoin settlement on the network connects regulated digital currencies with Mastercard’s existing infrastructure.

Stablecoins have become a growing segment of global financial services, with companies citing roughly $30 billion in daily transaction volume and a doubling of issuance in 2025 compared with the prior year. Surveys referenced by the companies indicate that more than half of crypto holders have used stablecoins in the past year, and more than 75% would consider opening a stablecoin wallet through a bank or fintech provider.

SoFi and Mastercard said they plan to explore additional use cases, including programmable treasury applications and stablecoin-enabled card programs, subject to regulatory requirements and network rules. SoFi Technologies trades on the Nasdaq under the ticker SOFI and reports 13.7 million members across its digital financial services platform.

FAQ 🔎

• What is SoFiUSD?
  SoFiUSD is a fully cash-reserved U.S. dollar stablecoin issued by SoFi Bank, N.A., and redeemable 1:1 for dollars.
• How will SoFiUSD work on Mastercard’s network?
  Issuers and acquirers will be able to settle card transactions using SoFiUSD instead of traditional fiat settlement rails.
• Is SoFiUSD regulated in the United States?
  Yes, it is issued by an OCC-regulated, nationally chartered and insured U.S. deposit bank.
• What payment use cases are expected?
  The companies cited cross-border remittances, B2B transfers and potential stablecoin-enabled card programs.