TLDR Tech / Fintech
SoFi launches SoFiUSD for 14.7 million users as first bank-issued stablecoin
SoFi has introduced SoFiUSD, a fully reserved US dollar stablecoin available to its 14.7 million members, becoming the first US national bank to issue a stablecoin on a public blockchain. The fintech plans to integrate the token across its Galileo platform, which supports 160 million accounts, and enable stablecoin settlement through Mastercard's global payments network, positioning blockchain infrastructure as a core part of mainstream financial services. For fintech and payments companies, the move signals a shift from stablecoins as crypto products to regulated banking infrastructure that could lower settlement costs, improve payment speed, and create new revenue opportunities across the financial ecosystem.
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