SoFi Technologies has officially launched SoFiUSD, a fully regulated stablecoin available directly within its mobile banking app, marking a historic convergence of traditional banking and blockchain technology. The launch gives the company’s 14.7 million members the ability to buy, sell, hold, and convert the US dollar-pegged token, which is now live on both Ethereum and Solana.
The stablecoin is redeemable 1:1 for US dollars from SoFi Bank and is backed by liquid assets for all outstanding tokens. CEO Anthony Noto emphasized that users “no longer have to choose between blockchain technology and regulated banking products,” positioning SoFiUSD as a single point of access for saving, spending, borrowing, investing, and now digital asset transactions.
The initial rollout is the first phase of a broader roadmap. In the coming weeks, SoFi plans to introduce tokenized deposits that could allow members to convert SoFiUSD into interest-bearing accounts with potential FDIC insurance. Additional features will include 24/7 cross-border transfers and integration with Bullish for institutional clients, aimed at improved pricing and trade execution. This follows SoFi’s March partnership with Mastercard to explore SoFiUSD settlement across the global payments network, and the April launch of Big Business Banking—a platform enabling institutions to manage fiat, crypto, and the stablecoin under one regulated umbrella.
Market reaction has been swift, with traders closely tracking Ethereum (ETH) and Solana (SOL) prices as indicators of adoption momentum. Analysts see the move as a validation that stablecoins may become core settlement tools in global finance. Ethereum’s deep liquidity and security are seen as a foundation for institutional tokenization, while Solana’s speed and low costs strengthen usability for real-time payments. This dual-chain strategy underscores how major financial institutions now prefer multi-network systems for resilience and scalability.
SoFi’s crypto unit generated $121.6 million in Q1 transaction revenue, though net income from that segment was only $852,000. The company warns that SoFiUSD is not a deposit, not FDIC or SIPC insured, and may involve blockchain-related risks. Nevertheless, the launch places SoFi at the forefront of the regulated stablecoin wave, increasing pressure on other banks to accelerate their own digital asset strategies and on regulators to refine frameworks for bank-issued tokens.
