SoFi Technologies has partnered with Mastercard to launch SoFiUSD, a fully collateralized USD-pegged stablecoin used as a payment currency on Mastercard’s global payment network. The coin is issued by SoFi Bank and deployed on the Ethereum blockchain, enabling card issuers and merchants to process transactions—including cross-border transfers and B2B payments—with near-instant settlement, operating 24/7.
SoFiUSD will also operate within Mastercard’s Multi-Token Network, a platform connecting traditional payment systems with digital assets. Galileo, SoFi’s financial technology platform, is expected to be one of the first services allowing customers to settle transactions using SoFiUSD.
The two companies announced they will continue exploring interoperability between stablecoins, fiat currencies, and tokenized deposits, while complying with legal requirements. Scheduled to launch in December 2025, SoFiUSD is the first stablecoin issued by a licensed national bank on a public blockchain, fully collateralized 1:1 with cash reserves.
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