SoFiUSD
SoFiUSD is a fully reserved U.S. dollar stablecoin issued by SoFi Bank, N.A., making SoFi the first national bank to launch a stablecoin on a public, permissionless blockchain. The stablecoin is backed by cash at 1:1 held in the bank’s Federal Reserve account, enabling instant redemption while minimizing liquidity and credit risk. SoFi is opening its stablecoin infrastructure so that banks, fintech companies, and enterprises can integrate SoFiUSD into settlement processes or use SoFi’s regulatory, operational, and reserve frameworks to issue white-label stablecoins.
Overview
SoFiUSD is a fully reserved U.S. dollar stablecoin issued by SoFi Bank, N.A., making SoFi the first national bank to launch a stablecoin on a public, permissionless blockchain. The stablecoin is backed by cash at 1:1 held in the bank’s Federal Reserve account, enabling instant redemption while minimizing liquidity and credit risk. SoFi is opening its stablecoin infrastructure so that banks, fintech companies, and enterprises can integrate SoFiUSD into settlement processes or use SoFi’s regulatory, operational, and reserve frameworks to issue white-label stablecoins.
- Sector
- # Stablecoins
Team
Team information has not been disclosed.
Funding history
0 disclosed roundsNo disclosed funding records.
Related news
Market updates
SoFi Bank announces that it has enabled Mastercard settlement on its SoFiUSD card network
SoFi Bank says it has used its proprietary stablecoin SoFiUSD to Mastercard settle transactions across its entire card business network, with expected annualized transaction volume exceeding 25000000000 USD。
People updates
No related people updates.