SoFi Bank announces that it has enabled Mastercard settlement on its SoFiUSD card network
BIBIBI
AT A GLANCE
SoFi Bank says it used SoFiUSD to settle Mastercard its entire card business, with expected annualized transaction volume exceeding 25000000000 USD。
Article
SoFi Bank brings its entire card business onto stablecoin settlement, with expected annualized transaction volume exceeding 25000000000 USD
PANews September 25 According to news reported by CrowdfundInsider, SoFi Bank announced that it has used its proprietary stablecoin SoFiUSD to Mastercard settle transactions across its entire card business network, calling itself the first U.S. national bank to implement this model. SoFi previously estimated that after migrating all of its debit and credit card business to stablecoin settlement, annualized transaction volume would exceed 25000000000 USD. SoFi 2025 launched it in December year SoFiUSD and made it available to users in the SoFi app in May this year; the two parties this year March announced their partnership. The payment infrastructure provider RS2 CEO Radi El Haj said that stablecoin settlement has moved from the previous pilot phase into actual operations covering the entire Mastercard network, with the relevant settlement taking place within the existing bank card payment system...
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🔗https://www.panewslab.com/zh/articles/01a0d8fe-8619-716e-8865-55ba581fd728
Key points
01
PANews says the news came from a CrowdfundInsider report.
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SoFi Bank announced that it has used its proprietary stablecoin SoFiUSD, to Mastercard settle transactions across its entire card business network.
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SoFi Bank calls itself the first U.S. national bank to implement this model.
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SoFi previously estimated that after migrating all debit and credit card business, annualized transaction volume would exceed 25000000000 USD。
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The original article says that SoFi, in 2025 year,December launched SoFiUSD and made it available to users in the SoFi app this year.May
06
The original article says that the two parties this year March announced their partnership.
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RS2 CEO Radi El Haj said that stablecoin settlement has moved from the pilot phase into actual operations covering the entire Mastercard network.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This means that the stablecoin use described by SoFi Bank is not limited to users holding or transferring it; it is being used for transaction settlement in the card business. The “exceeding 25000000000 USD” in the article is SoFi’s previous estimate of annualized transaction volume after migrating all debit and credit card business, rather than transaction volume already achieved.
Why it matters to readers
If the coverage described in the original article is accurate, this indicates that stablecoin settlement has been used in the actual operation of a bank card network, rather than only in a pilot; however, the current material primarily presents statements from the relevant companies and media re-reporting.
Beginners should distinguish between “expected annualized transaction volume” and actual revenue, profit, or current trading volume. The news can be used to observe stablecoin payment applications, but it is insufficient on its own to support an investment decision.
Risks and unknowns
The current evidence is an excerpt from a PANews report on CrowdfundInsider, and does not include the original official announcement from SoFi Bank or Mastercard the official announcement.
The specific geographic area, card types, and transaction scope of “the entire card business network” and “covering the entire Mastercard network” are not fully explained.
exceeding 25000000000 USD was a previous estimate; the actual settlement volume and whether it reached that level cannot yet be confirmed.
Related Developments
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The original text is truncated at the end, and the complete description of the settlement mechanism is not visible.
“this year May” and “this year March” do not directly specify the exact years in the main text.
Related concepts
Stablecoins
A class of interchangeable crypto assets that anchor to the same underlying value across entities; examples in the text include USDT and USDC。
