SoFi brings bank-issued stablecoin to 15 million users in crypto push
SoFi has launched SoFiUSD, a dollar-backed stablecoin, making it the first U.S. national bank to offer a stablecoin directly to retail customers on a public blockchain. Nearly 15 million SoFi members can now trade and convert SoFiUSD through the SoFi app, which is redeemable 1:1 for U.S. dollars. The company aims to expand the use of stablecoins in traditional finance, focusing on cross-border payments and B2B transactions.
- ▪SoFiUSD is available on Ethereum and Solana.
- ▪The stablecoin is redeemable 1:1 for U.S. dollars through SoFi Bank.
- ▪SoFi plans to introduce features like interest-earning tokenized deposits and 24/7 cross-border transfers.
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FinanceShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailSoFi brings bank-issued stablecoin to 15 million users in crypto pushThe fintech platform says its dollar-backed stablecoin will let members trade, transfer and eventually earn yield through its banking app.By Helene Braun|Edited by Stephen Alpher May 27, 2026, 11:00 a.m. 2 min readMake preferred on What to know: SoFi has launched SoFiUSD, a dollar-backed stablecoin on Ethereum and Solana, becoming the first U.S. national bank to offer a stablecoin directly to retail customers on a public blockchain.Nearly 15 million SoFi members can now buy, sell, hold and convert SoFiUSD in the app, with each token redeemable 1:1 for U.S.
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