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      Licensed US Bank SoFi and Mastercard Launched Stablecoin Settlements for Card Transactions

      • Mastercard is expanding the use of stablecoins through a partnership with SoFi.
      • A US fintech with a banking license has begun processing card settlements using its own stablecoin.
      • The bank’s card transaction volume exceeds $25 billion.

      US financial company SoFi Technologies and payments giant Mastercard announced the launch of stablecoin settlements for SoFi Bank’s debit and credit card program. The company is migrating its entire card portfolio, with annual volume of more than $25 billion, to settlement via SoFiUSD — a stablecoin issued by a regulated US bank.

      Transactions are already being processed on the blockchain. SoFiUSD is issued by SoFi Bank, N.A., which is regulated by the OCC and holds a federal banking charter. The stablecoin can be redeemed 1:1 for the US dollar, and its reserves are primarily made up of cash.

      The launch is the result of a partnership between SoFi and Mastercard that the companies announced in March 2026.

      “In six months, SoFi and Mastercard took stablecoin settlement from an idea to a live product that materially improves how money moves for businesses,” said Anthony Noto, SoFi CEO.

      According to him, merchants do not need to hold stablecoins, build new infrastructure, or change how they operate. Through the SoFi Big Business Banking platform, they can receive funds into a SoFi Bank account and cash them out 24/7 with no fees.

      “Stablecoins become meaningful when they solve real problems that businesses face every day,” noted Sherri Haymond, Mastercard’s global head of digital commercialization.

      The launch is part of Mastercard’s broader strategy to use stablecoins across its global payments network. In June 2026, the company announced an expansion of onchain settlement and support for regulated stablecoins.

      In addition, in August Mastercard completed the acquisition of infrastructure company BVNK to develop fiat and onchain payments.

      SoFi is also in talks with major US trading companies about using stablecoins for settlements. In future scenarios, Mastercard and SoFi plan to explore cross-border payments, remittances, and other ways to move funds.

      Сообщение Licensed US Bank SoFi and Mastercard Launched Stablecoin Settlements for Card Transactions появились сначала на INCRYPTED.


      Source: Incrypted
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