SoFi has introduced SoFiUSD, a fully reserved U.S. dollar stablecoin, marking a milestone for the U.S. banking sector. With this launch, SoFi becomes the first nationally chartered bank to issue a stablecoin on a public, permissionless blockchain, signaling a deeper convergence between traditional finance and crypto infrastructure.
The company said SoFiUSD is backed one-to-one by U.S. dollars and high-quality liquid assets, aiming to provide transparency, stability, and regulatory compliance. The move positions SoFi at the forefront of tokenized finance, as banks explore blockchain-based payment rails to reduce settlement times and costs.
Industry observers view the launch as a strategic step toward modernizing digital payments and expanding access to on-chain financial services. It also reflects growing confidence among regulated institutions that stablecoins can operate within existing banking frameworks while leveraging open blockchain networks.
