SoFi Technologies, Inc. announced the launch of SoFiUSD, a fully reserved U.S. dollar stablecoin issued by SoFi Bank, N.A. SoFiUSD will enable SoFi to serve as a stablecoin infrastructure provider for banks, fintechs, and enterprise platforms. They will be able to leverage SoFi's bank-grade infrastructure to streamline their operations with faster and more efficient money movement. SoFi is now the first national bank to offer open access to its stablecoin, SoFiUSD, and stablecoin infrastructure, bringing bank-grade oversight and reliability to companies looking to integrate stablecoin products and services. And for companies operating in countries with volatile currencies, SoFi plans for SoFiUSD to be used as a secured dollar-denominated asset in a consumer debit or secured credit account.
Last month, SoFi became the first and only national bank to offer crypto trading to consumers. Members can buy, sell, and hold nearly 30 coins and have a safe, seamless way to engage with crypto directly within the SoFi ecosystem. Today's launch of SoFiUSD builds on this momentum and accelerates SoFi's strategy to build modern infrastructure that bridges traditional banking with the next generation of on-chain technology.
SoFiUSD is now available for internal settlement activity, with broader availability to SoFi members expected in the coming months. institutions and developers interested in integrating SoFiUSD or exploring infrastructure partnerships can reach out to .
SoFi Technologies, Inc. is a provider of financial services. The Company, through its lending and financial services products, allows members to borrow, save, spend, invest, and protect their money. It operates through three segments: Lending, Technology Platform and Financial Services. The Lending Segment offers personal loans, student loans, home loans and related servicing. Its platform supports the full transaction lifecycle, including credit application, underwriting, approval, funding, and servicing. The Technology Platform segment provide technology platform services through a diversified suite of offerings which include an event and authorization platform accessed via application programming interfaces, a cloud-native digital and core banking platform and services related to both platforms. The Financial Services segment include SoFi Money, SoFi Invest, and other services, including SoFi Credit Card, Lantern Credit, SoFi Relay, SoFi Protect, and SoFi Travel.
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