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SoFi has launched SoFiUSD, a fully reserved U.S. dollar stablecoin issued by its nationally chartered bank, pushing a regulated lender directly into the fast-evolving world of onchain settlement.
SoFi Brings Stablecoins Inside the Banking Perimeter
SoFiUSD is designed to support 24/7, near-instant settlement for banks, fintechs, and enterprise partners using a public, permissionless blockchain, according to the company’s announcement on Thursday.
Unlike the wave of stablecoins issued by crypto-native firms, SoFiUSD comes straight from SoFi Bank, N.A., an OCC-regulated, insured depository institution. The pitch is straightforward: faster money movement, fewer intermediaries, and settlement that does not clock out on weekends or holidays.
Partners can move funds around the clock at near-instant speeds, while SoFi positions itself as the plumbing layer rather than the star of the show. In other words, less hype, more rails—at least on paper. SoFi says the stablecoin is fully reserved 1:1 by cash and redeemable immediately, with reserves held at the bank level.
That structure places SoFiUSD squarely inside the regulated banking system, a sharp contrast to stablecoins that rely on third-party custodians or opaque reserve disclosures. SoFi’s release notes that transparency, in this case, is doing the heavy lifting.
Beyond settlement, SoFi plans to let institutions issue white-label stablecoins using its infrastructure or integrate SoFiUSD into existing payment flows. The company also sees potential uses across card networks, retailers, remittances, and enterprise payments, signaling ambitions that stretch well beyond crypto trading desks.
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The launch comes as regulators continue to circle stablecoins, pressing for clearer rules around reserves, issuance, and oversight via the GENIUS Act. By anchoring SoFiUSD inside a national bank, SoFi appears to be betting that compliance-first design will matter as much as speed and cost in the next phase of stablecoin adoption.
Following the July signing of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), a wide range of financial and non-financial players beyond SoFi are plotting or accelerating stablecoin rollouts under the new federal framework.
SoFiUSD is currently live for internal settlement activity, with broader access expected in the coming months. Whether banks and fintechs bite will help answer a bigger question: do regulated stablecoins finally bring blockchain payments into the financial mainstream, or just give it a cleaner suit?
FAQ ❓
- What is SoFiUSD?SoFiUSD is a fully reserved U.S. dollar stablecoin issued by SoFi Bank, N.A.
- Who is it designed for?The stablecoin targets banks, fintechs, and enterprise partners seeking 24/7 settlement.
- How are reserves handled?SoFi says SoFiUSD is backed 1:1 by cash held within its regulated banking structure.
- When will it be widely available?Broader access is expected in the coming months following internal rollout.