SoFi Launches SoFiUSD, First Stablecoin Issued by a US National Bank

SoFi Technologies launched SoFiUSD, a U.S. dollar-pegged stablecoin now available to nearly 15 million members.

The launch marks the first time a U.S. national bank, SoFi Bank, N.A., has issued a stablecoin on a banking platform.

Users can redeem the token on a 1:1 basis for U.S. dollars via the Ethereum and Solana blockchains.

SoFi aims to bridge traditional finance and digital assets through bank-grade safeguards and transparency.

Future phases include enabling international payments and converting SoFiUSD into interest-bearing, FDIC-insured tokenized deposits.