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      SoFi Launches Stablecoin Card Settlement on Mastercard, Projecting $25 Billion in Annual Transactions

      SoFi Bank has initiated the use of its SoFiUSD stablecoin for settling card transactions on Mastercard's global network, marking a significant development in the fintech sector. This program, which began on September 22, 2026, is projected to process over $25 billion in transactions annually, positioning SoFi as the first national bank in the United States to implement live stablecoin settlements through Mastercard.

      The SoFiUSD stablecoin operates on public blockchains, including Ethereum and Solana, allowing for continuous settlement and programmable payments. While merchants will receive standard fiat currency, SoFiUSD is fully reserved and regulated by the Office of the Comptroller of the Currency (OCC), although it is important to note that it is not insured by the Federal Deposit Insurance Corporation (FDIC).

      SoFi's strategic partnership with Mastercard, established in March 2026, has paved the way for this innovation. The stablecoin became available to approximately 15 million users of the SoFi app in May 2026, aiming to enhance payment processing efficiency within a regulated banking framework. SoFi plans to extend its stablecoin settlement services to other banks through its technology platform, Galileo, and is exploring partnerships with large U.S. merchants. However, the projected transaction volume remains a goal rather than a proven track record, and consumer awareness regarding the lack of FDIC coverage for SoFiUSD is crucial for its adoption.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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