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SoFi Launches SoFiUSD on Solana, Citing Lower Costs and Speed

GateNews
solana newsProject ProgressPartnerships & Ecosystem
SOL3.39%
ETH1.59%

According to SoFi head Ben Reynolds, SoFi Technologies will launch its SoFiUSD stablecoin on Solana on Tuesday (May 5). The move follows the company's December 2025 debut of SoFiUSD, a fully reserved U.S. dollar stablecoin issued by SoFi Bank.

"We think it is the right chain to use for payments, partially because of the cost, partially because of the settlement speed and ultimately the throughput," Reynolds said. SoFiUSD was initially deployed on Ethereum, with plans to extend to other networks over time.

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