SoFi and Mastercard said they plan to explore additional use cases, including programmable treasury applications and stablecoin-enabled card programs, subject to regulatory requirements and network rules. SoFi Technologies trades on the Nasdaq under the ticker SOFI and reports 13.7 million members across its digital financial services platform.
FAQ What is SoFiUSD? SoFiUSD is a fully cash-reserved U.S. dollar stablecoin issued by SoFi Bank, N.A., and redeemable 1:1 for dollars. How will SoFiUSD work on Mastercard’s network? Issuers and acquirers will be able to settle card transactions using SoFiUSD instead of traditional fiat settlement rails. Is SoFiUSD regulated in the United States? Yes, it is issued by an OCC-regulated, nationally chartered and insured U.S. deposit bank. What payment use cases are expected? The companies cited cross-border remittances, B2B transfers and potential stablecoin-enabled card programs.SoFi Technologies Advances Stablecoin Settlement With Mastercard
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