SoFi Becomes First U.S. National Bank To Settle Card Payments With Stablecoin / Fresh Today / CUToday.info

SoFi Technologies and Mastercard are migrating SoFi Bank's $25 billion card program to stablecoin settlement using SoFiUSD, a U.S. dollar-backed stablecoin. This move aims to replace traditional settlement infrastructure without changing the consumer payment experience. Mastercard's CFO highlighted stablecoins as a growth opportunity, embedding related capabilities into its payments stack. The shift focuses on settlement volume and liquidity rather than consumer adoption.

SoFi and Mastercard have launched stablecoin settlement for SoFi Bank's debit and credit cards, processing over $25 billion annually. SoFiUSD, a bank-issued stablecoin, settles transactions on Mastercard's network, offering faster merchant payouts without requiring merchants to hold stablecoins or change operations. Both companies aim to expand stablecoin use in regulated payment systems.

Mastercard (MA) has started live processing of SoFiUSD settlement for SoFi's debit and credit cards, with the program expected to handle over $25 billion in annualized volume. Shares of Mastercard rose 1.25% to $562.815. SoFi plans to offer stablecoin settlement to other financial companies through its Galileo platform.

SoFi Technologies (SOFI) has integrated its stablecoin, SoFiUSD, into its debit and credit card program via Mastercard, processing over $25B in annualized volume. The move follows a 67% YoY rise in interchange fee revenues and a doubling of credit card revenues in Q2 2026. SoFiUSD is also used for crypto trading and Big Business Banking, aiming to create fee-based revenues and net interest income.

SoFi Technologies (SOFI) shares fell 1.57% to $16.89 Wednesday, consolidating gains after a rally fueled by its stablecoin settlement integration with Mastercard's global network. The company's $25B annualized card program now uses blockchain-based settlement, marking a significant operational shift. CEO Anthony Noto highlighted the rapid development and benefits for merchants, including instant settlements and zero-cost conversions.

SoFi Technologies (SOFI) stock rose 3% after launching stablecoin settlement for its card program via Mastercard's network. The initiative, using SoFiUSD, aims to process over $25 billion annually. SoFiUSD, issued by SoFi Bank, is backed 1:1 by U.S. dollars. The move follows a March partnership and aligns with CEO Anthony Noto's Q2 earnings hint. The company also reported strong Q2 growth and raised revenue guidance.