# SoFi Launches SoFiUSD Stablecoin on Ethereum and Solana

**Published:** 2026-05-27T17:08:09.000Z  
**Topic:** Solana  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/9ddacc3f-24a6-4d65-b3bd-31c6f5b22101

SoFi Technologies has introduced SoFiUSD, the first stablecoin issued by a U.S. national bank, available to its 15 million members on Ethereum and Solana.

SoFi Technologies has launched SoFiUSD, becoming the first federally chartered U.S. bank to issue its own stablecoin to a retail customer base [1, 3]. The digital asset is now available for the company’s nearly 15 million members to buy, sell, hold, and transfer directly within the SoFi mobile application [3, 4].

**Key takeaways**
* SoFiUSD is issued by SoFi Bank, N.A., and is backed 1:1 by cash or highly liquid cash equivalents [3, 4].
* The stablecoin is currently live on the Ethereum and Solana blockchains [3, 4].
* SoFi plans to introduce a tokenized deposit product that offers interest and FDIC insurance, distinct from the non-interest-bearing stablecoin [3].
* Mastercard is integrating SoFiUSD into its Multi-Token Network to facilitate global payment settlement [1, 3].
* Independent attestations by a U.S.-licensed CPA firm are used to verify the reserves supporting the token [3, 4].

## Bridging Traditional Banking and Blockchain
The rollout of SoFiUSD represents a strategic effort to combine the speed of blockchain technology with the regulatory oversight of a national bank [3, 4]. According to SoFi CEO Anthony Noto, the initiative is intended to diversify the company’s platform and provide customers with an alternative to choosing between blockchain-based assets and traditional banking products [1, 4]. Because the stablecoin is issued by an OCC-regulated bank with access to Federal Reserve liquidity, the company aims to maintain a stable 1:1 peg to the U.S. dollar [3].

SoFi is implementing a hybrid model that offers both a portable stablecoin and a separate tokenized deposit product [3]. While the SoFiUSD stablecoin allows for 24/7 global transfers on public blockchains, it does not earn interest and is not FDIC-insured [3]. Conversely, the upcoming tokenized deposit feature is designed to remain within the SoFi ecosystem, providing users with yield and FDIC protection [3]. Users will be able to swap between these two assets within the app, providing flexibility based on their specific needs for mobility or security [3].

## Institutional Infrastructure and Market Reaction
Beyond the retail launch, SoFi has been developing institutional infrastructure through partnerships with firms including Cumberland, Wintermute, Galaxy, BitGo, and Bullish [3]. The company intends to expand the use of SoFiUSD for cross-border transfers and deepen liquidity through its partnership with the exchange Bullish [3, 4]. 

Following the announcement, SoFi Technologies stock experienced significant volatility, with shares rising 12% in early trading on May 29, 2026 [1]. The move occurred amid a broader rally in the fintech sector, which had previously been one of the worst-performing groups of the year [1]. While the market reaction has been positive, analysts note that the project faces potential regulatory scrutiny, as federal banking regulators continue to monitor the development of bank-issued stablecoins [1].

## Why it matters
The launch of SoFiUSD marks a notable shift in how financial institutions interact with digital assets, moving from experimental projects to integrated, bank-regulated products [3]. By offering a stablecoin alongside tokenized deposits, SoFi is attempting to address common frictions in digital finance, such as settlement delays and the lack of regulatory safeguards in crypto-native stablecoins [3]. The success of this model may influence how other banks approach digital currency integration. Moving forward, the company’s ability to maintain its peg, manage regulatory expectations, and successfully roll out its planned tokenized deposit features will be critical to the long-term viability of the project [1, 3].

## Sources
1. 24/7 Wall St. — [SoFi Technologies Surges 12% on Stablecoin Launch; Robinhood, Upstart Extend Fintech Bounce](https://247wallst.com/investing/2026/05/29/sofi-technologies-surges-12-on-stablecoin-launch-robinhood-upstart-extend-fintech-bounce/)
2. Financial IT — [SoFiUSD Becomes the First Stablecoin Issued by a U.S. National Bank to Launch on a Banking Platform](https://financialit.net/news/cryptocurrencies/sofiusd-becomes-first-stablecoin-issued-us-national-bank-launch-banking)
3. Crowdfund Insider — [SoFi Now Offers Bank-Issued Stablecoin Directly to Consumers](https://www.crowdfundinsider.com/2026/05/282203-sofi-now-offers-bank-issued-stablecoin-directly-to-consumers/)
4. Investing.com — [SoFi Technologies stock surges 7% on stablecoin launch By Investing.com](https://za.investing.com/news/stock-market-news/sofi-technologies-stock-surges-7-on-stablecoin-launch-93CH-4305552)

---
Cite as: TrendWatcher, "SoFi Launches SoFiUSD Stablecoin on Ethereum and Solana", https://www.trendwatcher.in/article/9ddacc3f-24a6-4d65-b3bd-31c6f5b22101