SoFi Rolls Out SoFiUSD Stablecoin to Nearly 15M Members, a First for a U.S. National Bank App
SoFi Technologies on May 27, 2026 launched SoFiUSD, making it available to nearly 15 million members and positioning SoFi Bank, N.A. as the first U.S. national bank to offer a bank-issued stablecoin directly inside a banking application.
SoFi said members can buy, sell, hold, and convert SoFiUSD within the SoFi app. The token is issued by SoFi Bank, N.A. and regulated by the Office of the Comptroller of the Currency (OCC). SoFiUSD is designed to maintain a 1:1 value with the U.S. dollar and can be redeemed directly with the bank. SoFi added that it holds liquid assets to back all SoFiUSD in circulation.
"People no longer have to choose between blockchain technology and regulated banking products," said CEO Anthony Noto. "With SoFiUSD, we're giving our members a single place to buy, hold, and pay with digital assets in the same app they already use to save, spend, borrow, and invest."
SoFiUSD is live on Ethereum and Solana, with additional networks to be added over time. The company said users will receive regular independent attestations from a U.S.-licensed certified public accountant. Full availability is expected by early June as members update to the latest version of the SoFi app.
The launch is the first phase of a broader roadmap. Within weeks, SoFi plans to enable conversion of SoFiUSD into tokenized deposits, which it said would allow members to earn interest and access FDIC insurance on those funds. The company also plans to introduce 24/7 cross-border transfers using the stablecoin, aiming to move value globally at lower cost than traditional wire systems.
SoFi also confirmed a partnership with Bullish, a centralized digital asset exchange, with access for institutional traders expected soon. The listing is intended to support stable pricing and high-volume execution for professional clients.
On-chain, SoFiUSD uses the ticker SOFID. The company emphasized the token is not a deposit, is not insured by the FDIC or SIPC, and is not legal tender. It also warned that blockchain transactions are generally irreversible and may involve delays or the risk of permanent loss.
SoFi said it operates a financial services super app with 14.7 million members and also runs Galileo, a technology platform serving fintechs, banks, and brands across 133 million global accounts. The move places SoFi ahead of most traditional finance banks in offering regulated stablecoin access at scale, as U.S. policymakers continue to debate federal stablecoin legislation.
