Digital bank SoFi launched its USD stablecoin, SoFiUSD, and plans to make it available to its members in the future.

Odaily Planet Daily reports that SoFi Technologies Inc., a US-listed digital bank, has announced the launch of its USD stablecoin, SoFiUSD. This stablecoin is fully backed one-to-one by cash reserves and is currently used for internal settlements, with plans to open it to SoFi members in the coming months. According to the official introduction, SoFi is the first nationally licensed retail bank to issue a stablecoin on a public, permissionless blockchain, combining the regulatory strength of a national bank with transparent, fully protected on-chain technology. (Bloomberg)