SoFi Bank Launches SoFiUSD Stablecoin for 15M Users

SoFi Bank debuts SoFiUSD, a bank-grade stablecoin on Ethereum and Solana, offering 15 million users integrated crypto and traditional banking services.

The move represents a major breakthrough in the integration of traditional banking and blockchain infrastructure, as stablecoin services begin to filter directly into the everyday financial applications of major banks.

This new service is currently being rolled out to nearly 15 million users on the platform. Full functionality is expected to go live in the coming weeks following updates to the mobile applications.

SoFiUSD allows customers to buy, sell, hold, and convert stablecoins directly alongside their checking, savings, and investment accounts—eliminating the need for an external crypto wallet or a separate exchange.

SoFi Commits to Multi-Chain Infrastructure

The stablecoin is built as a multi-chain asset, launching simultaneously on Ethereum and Solana. This combination aims to provide deep liquidity while ensuring faster and cheaper transactions.

The company stated that SoFiUSD is backed 1:1 by highly liquid assets held directly at SoFi Bank. Independent, licensed U.S. auditors will publish regular attestations regarding these reserves.

This effort positions the product as a “bank-grade stablecoin”—a category that blends blockchain functionality with the trust and regulatory framework of traditional banking.

Market observers are watching these developments closely, as the stablecoin sector becomes a critical battleground for fintech firms, banks, and the crypto industry.

The Next Phase: Tokenized Deposits and 24/7 Banking

The most ambitious part of SoFi’s strategy is still on the horizon.

The company plans to introduce tokenized deposits, a mechanism allowing users to convert SoFiUSD into tokenized bank deposits that earn yield while maintaining standard FDIC protection.

This potentially addresses a significant hurdle for stablecoins: the lack of government-guaranteed protection for funds.

SoFi also intends to utilize SoFiUSD for 24/7 international payments, enabling instant transfers outside of traditional banking hours and the SWIFT infrastructure.

In parallel, the stablecoin will be listed on Bullish—SoFi’s first centralized exchange partner—to build institutional liquidity and more stable pricing.

This development follows SoFi’s announcement of a strategic partnership with Mastercard to utilize SoFiUSD for global payments.

Analysts view the move as a strong signal that U.S. banks are moving more aggressively into the stablecoin sector ahead of final crypto legislation in Washington.

According to experts, the combination of regulated banking infrastructure and blockchain-based payments could transform how consumers use digital dollars, particularly for international transfers, online payments, and automated financial services.

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