annualized volume expected to exceed $25 billion, SoFi enables SoFiUSD stablecoin settlement on Mastercard network

Odaily — SoFi has begun using SoFiUSD to settle debit and credit card transactions on the Mastercard network, and plans to migrate its entire card program to blockchain settlement, with an expected annualized processing volume exceeding $25 billion. SoFi stated that it is the first bank to launch stablecoin settlement on the Mastercard network.