SoFi Rolls Out SoFiUSD Stablecoin in Banking App With Ethereum and Solana Support

SoFi has introduced its own stablecoin, SoFiUSD, inside its banking app, allowing users to buy, sell, hold and redeem the token directly within the product, CoinDesk reported. The initial rollout supports Ethereum and Solana. The company said SoFiUSD is redeemable 1:1 for U.S. dollars through SoFi Bank and is backed by highly liquid assets held by the bank. The launch highlights how stablecoins are moving beyond institutional settlement tools and into consumer-facing banking features. SoFi is embedding stablecoin capability into its everyday banking interface rather than keeping blockchain limited to backend settlement. The move positions stablecoins closer to routine payments and account services, instead of infrastructure used only inside financial institutions. Starting on Ethereum and Solana also signals widening acceptance of public blockchains among traditional financial players. Earlier bank-linked blockchain initiatives were typically built on closed or permissioned networks designed mainly for institutional clients. SoFi said it plans to distribute SoFiUSD through its institutional trading partner, Bullish, aiming to support larger transaction volumes and improve liquidity management. The company also referenced broader roadmap items tied to blockchain-based payments, cross-border transfers and tokenized deposit functionality associated with FDIC-insured bank products. SoFi noted it has nearly 15 million members, giving SoFiUSD potential reach that exceeds most blockchain pilot programs focused solely on institutional users.