SoFi Launches Bank-Issued Stablecoin for 15M Members on Ethereum and Solana
SOFI•SoFi Technologies introduced SoFiUSD, the first U.S. national bank-issued stablecoin fully integrated into its mobile banking platform for nearly 15 million members. SoFiUSD is redeemable one-for-one for U.S. dollars, maintains liquid reserves, and is live on Ethereum and Solana with plans for interest-bearing deposits and cross-border transfers.
1. SoFi Launches Bank-Issued Stablecoin
SoFi introduced SoFiUSD, the first U.S. national bank-issued stablecoin integrated into its mobile banking app for nearly 15 million members. The token is fully redeemable one-for-one for U.S. dollars, backed by liquid reserves to cover all circulation, and currently operates on Ethereum and Solana with additional network integrations and interest-bearing deposit features planned.
2. SoFi Joins Open Transaction Layer Protocol
SoFi is a founding member of the Open Transaction Layer (OTL), an open protocol stack designed to standardize identity, messaging, transaction coordination and compliance across institutions, unhosted wallets and AI agents. The initiative leverages standards like W3C DIDs, IVMS101 and ISO 20022 to reduce bespoke integrations, streamline institutional crypto operations and support workflows such as payment authentication and compliance checks before settlement.
