SoFi and Mastercard Launch Bank-Backed Stablecoin
SoFi, a groundbreaking financial institution, has made history by becoming the first U.S. nationally chartered and FDIC-insured bank to issue a stablecoin on a public blockchain. This innovative move has paved the way for SoFi to partner with Mastercard in using SoFiUSD for global payment settlements. Launched in December 2025, SoFiUSD is fully backed by cash reserves, providing a secure and reliable means for instant 24/7 transactions for businesses, cross-border remittances, and B2B payments.
Anthony Noto, the CEO of SoFi, has hailed the launch of SoFiUSD as a significant milestone in the realm of financial technology. He emphasized that this partnership with Mastercard represents a key step towards faster, cheaper, and safer money movement on a global scale. Mastercard, a trusted leader in the payment industry, has highlighted the unique combination of regulated digital currency and its vast scale in handling the $30 billion in daily stablecoin volume.
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