SoFi Launches Stablecoin, Becomes First National Bank
Update: 2025-12-18
Description
SoFi Technologies, a financial services company, is set to launch its own stablecoin, SoFiUSD, on the Ethereum blockchain. This move positions SoFi as a key infrastructure provider for other banks and financial technology companies, making it one of the first national banks to issue a stablecoin on a public blockchain. SoFiUSD will offer an attractive yield, be fully backed by cash for immediate redemptions, and play a crucial role in SoFis crypto trading business and other businesses seeking cheaper and faster money transfer solutions.
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