SoFi Launches Bank-Backed Stablecoin with 4.2% Yield and Monthly Audits
SOFI•SoFi launched SOFIUSD, a bank-chartered stablecoin with a 4.2% yield and monthly audits, backed 1:1 by 85% U.S. Treasury bills and 15% FDIC-insured cash held at the Federal Reserve. It issues tokens on Ethereum and Solana and must redeem at par within two business days under new stablecoin law.
1. Product Launch Details
SoFi introduced SOFIUSD in early 2026 on Ethereum and Solana networks, setting a 4.2% annual yield to attract yield-seeking customers and crypto participants.
2. Reserve Composition and Audits
SOFIUSD tokens are backed one-for-one by reserves comprising 85% short-term U.S. Treasury bills and 15% FDIC-insured cash held in segregated Federal Reserve accounts, with monthly verification by Deloitte.
3. Regulatory Framework and Legal Obligations
Operating under a national bank charter supervised by the Office of the Comptroller of the Currency, SoFi must maintain federal capital standards and redeem SOFIUSD tokens at par within two business days under the Stablecoin Transparency and Accountability Act.
4. Technical Structure and Use Cases
SOFIUSD is deployed as an ERC-20 token on Ethereum for institutional-grade transactions and as an SPL token on Solana for fast, low-cost retail payments, catering to diverse compliance and speed requirements.
