SoFi Launches Bank-Issued Stablecoin SoFiUSD for 15 Million Members
SoFi Technologies launched SoFiUSD, a dollar-backed stablecoin, directly inside its banking app for nearly 15 million members—the first stablecoin issued by a U.S. national bank on a banking platform. Regulated by the Office of the Comptroller of the Currency, it is redeemable 1:1 for U.S. dollars and runs on Ethereum and Solana. Future plans include tokenized deposits with FDIC insurance, cross-border transfers, and institutional trading. The launch boosted SOFI stock by 7.37% and aligns with U.S. crypto regulatory efforts like the GENIUS Act.
Cross-source coverage
Wire timeline
SoFi Technologies Launches SoFiUSD Stablecoin on Ethereum and Solana
SoFi Technologies Inc (NASDAQ: SOFI) has launched its own stablecoin, SoFiUSD, available on its banking app for members to buy, sell, or hold. Announced on May 27, 2026, the stablecoin is initially supported on Ethereum and Solana blockchains, with plans for additional networks later. SoFiUSD is backed by liquid assets and redeemable one-to-one for US dollars. CEO Anthony Noto stated the move allows members to access digital assets within the same app used for saving, investing, borrowing, and spending. SoFi, a digital-first financial services provider founded in 2011 and based in California, continues to expand its product offerings amid growing interest in stablecoins for their stability and transaction speed. The company's shares have gained over 10% in the past month.
Yahoo FinanceSoFi Technologies Launches SoFiUSD Stablecoin on Ethereum and Solana
SoFi Technologies Inc (NASDAQ: SOFI) has launched its own stablecoin, SoFiUSD, available on its banking app for members to buy, sell, or hold. The stablecoin, announced on May 27, 2026, is initially supported on Ethereum and Solana blockchains, with plans for additional networks later. SoFiUSD is backed by liquid assets and redeemable one-to-one for US dollars. CEO Anthony Noto stated the launch allows members to access digital assets within the same app used for saving, investing, borrowing, and spending. SoFi, a digital-first financial services provider founded in 2011 and based in California, continues to expand its product offerings amid growing interest in stablecoins for their stability and transaction speed. The company's shares have gained over 10% in the past month.
Yahoo FinanceSoFi Launches Bank-Backed Stablecoin SOFIUSD on Solana and Ethereum with Monthly Audits and 4.2% Yield
SoFi, a publicly traded fintech with a national bank charter, launched SOFIUSD, a dollar-pegged stablecoin on Ethereum and Solana networks in early 2026. Each token is backed 1:1 by reserves consisting of 85% short-term U.S. Treasury bills and 15% cash held at FDIC-insured institutions, with monthly audits by Deloitte and segregated accounts at the Federal Reserve Bank of San Francisco. The stablecoin is regulated under the Stablecoin Transparency and Accountability Act (2025), requiring redemption within two business days. SoFi is supervised by the Office of the Comptroller of the Currency as a nationally chartered bank. The article compares SOFIUSD to USDC and USDT, highlighting its regulatory status, reserve transparency, and the distinction from algorithmic stablecoins like TerraUSD.
Yahoo FinanceSOFI Stock Rises After SoFi Launches Bank-Issued Stablecoin
SoFi Technologies (SOFI) launched SoFiUSD, a bank-issued stablecoin available within its app, marking the first time a U.S. national bank has issued a stablecoin on a banking platform. The stablecoin is pegged 1:1 to the U.S. dollar and operates on Ethereum and Solana blockchains, with SoFi Bank backing all assets. The announcement boosted SOFI stock by 7.37%, though shares remain 35% below their year-to-date high. The launch leverages the GENIUS Act regulatory framework and positions SoFi to capture part of the $320 billion stablecoin market. Future plans include cross-border payments, remittance infrastructure, and institutional trading. SoFi reported its tenth consecutive GAAP-profitable quarter with record revenue of $1.1 billion. Analysts view SOFI as undervalued, trading at 27x forward earnings versus Robinhood's 42x.
Yahoo FinanceSoFi Launches Native Stablecoin to All Its Banking Customers
SoFi Technologies has expanded its native U.S. dollar-backed stablecoin, SoFiUSD, to all of its nearly 15 million members, allowing them to buy, sell, hold, and convert the digital asset within the SoFi mobile banking app. Previously available only to enterprise customers, the stablecoin is redeemable 1:1 for U.S. dollars and is currently supported on Ethereum and Solana blockchains. SoFi also plans to launch tokenized deposits in the coming weeks, enabling members to convert SoFiUSD into FDIC-insured, interest-bearing deposits. Industry experts note that combining stablecoins and tokenized deposits offers interoperability, consumer protections, and operational efficiencies. The move follows the GENIUS Act regulatory guidelines and positions SoFi as one of the first de novo banks to natively issue a stablecoin.
The LatestSoFi Launches SoFiUSD Stablecoin Across Ethereum and Solana
SoFi Technologies, a San Francisco-based fintech and U.S. national bank, announced the launch of SoFiUSD, a dollar-pegged stablecoin available directly within the SoFi consumer banking app. This marks the first time a federally chartered bank has offered a bank-issued stablecoin on a banking platform. SoFiUSD runs on both Ethereum and Solana blockchains and is redeemable one-to-one for U.S. dollars, backed by liquid assets with regular independent audits. The launch coincides with U.S. congressional efforts to establish a formal crypto regulatory framework, including the Clarity Act and the previously signed GENIUS Act. SoFi CEO Anthony Noto emphasized the integration of blockchain technology with regulated banking. The company plans future features such as FDIC-insured tokenized deposits, 24/7 low-cost cross-border transfers, and listing on the Bullish institutional exchange. SoFi cautioned that the stablecoin is not FDIC-insured and carries risk of loss.
Yahoo FinanceSoFiUSD Launches Inside Banking App as Stablecoin Push Moves Closer to Consumers
SoFi Technologies has launched SoFiUSD, a dollar-backed stablecoin, directly inside its banking app for nearly 15 million members. Issued by SoFi Bank, N.A. and regulated by the Office of the Comptroller of the Currency, the token is redeemable 1:1 for U.S. dollars and supported by liquid assets with independent CPA attestations. Available on Ethereum and Solana, with more networks planned, SoFiUSD is the first stablecoin from a U.S. national bank available on a banking platform. CEO Anthony Noto emphasized combining blockchain speed with bank trust. Future plans include converting SoFiUSD into tokenized deposits with FDIC insurance, cross-border value transfers, and institutional trading on Bullish. SoFi stock (SOFI) was trading at $15.98 at the time of reporting.
Yahoo FinanceSoFiUSD Launches Inside Banking App as Stablecoin Push Moves Closer to Consumers
SoFi Technologies has launched SoFiUSD, a dollar-backed stablecoin, directly inside its banking app for nearly 15 million members. The company claims it is the first stablecoin issued by a U.S. national bank to be available on a banking platform. SoFiUSD is issued by SoFi Bank, N.A., regulated by the Office of the Comptroller of the Currency, and redeemable 1:1 for U.S. dollars. The token is supported by liquid assets with regular attestations by an independent CPA. It is initially available on Ethereum and Solana blockchains. SoFi plans to allow members to convert SoFiUSD into tokenized deposits with potential interest and FDIC insurance, and to launch cross-border value transfer features and an institutional trading platform on Bullish. CEO Anthony Noto emphasized combining blockchain speed with bank trust. SoFi stock (SOFI) was trading at $15.98 per share.
Yahoo Finance