SoFi Launches Dollar Stablecoin SoFiUSD, Now Available to Nearly 15 Million Users

Odaily reports that SoFi has launched a U.S. dollar-backed stablecoin, SoFiUSD, on Ethereum and Solana, becoming the first nationally chartered U.S. bank to offer stablecoins directly to retail customers on a public blockchain. Nearly 15 million SoFi members can now buy, sell, hold, and exchange SoFiUSD within the app, with each token redeemable 1:1 for U.S. dollars through SoFi Bank. 

SoFi stated that it plans to use SoFiUSD in traditional financial scenarios such as cross-border payments and B2B transactions, and intends to launch features including interest-bearing tokenized deposits, FDIC-insured accounts, and 24/7 cross-border transfers. (CoinDesk)