SoFi rolls out bank-issued stablecoin SoFiUSD to nearly 15 million members on Ethereum and Solana

SoFi Technologies has launched SoFiUSD (SoFiD), a U.S. dollar stablecoin issued by SoFi Bank that lets members buy, sell, hold and convert the token directly inside the SoFi app. The company said SoFiUSD is the first stablecoin issued by a U.S. national bank to be offered through a banking app. The rollout gives SoFi's nearly 15 million members access to a "digital dollar" within the same platform they use for saving, spending, borrowing and investing. SoFiUSD is redeemable 1:1 for U.S. dollars from SoFi Bank, which the company said holds liquid assets to back all tokens in circulation. SoFi added that the stablecoin will be supported by regular attestations from an independent U.S.-licensed CPA. The token is launching on Ethereum and Solana, with additional networks expected over time. CEO Anthony Noto said SoFi aims to pair blockchain-speed settlement with the trust and oversight of regulated banking, giving members one place in the SoFi app to buy, hold and pay with digital assets. SoFi described the launch as the first step in a broader stablecoin roadmap. Planned features include converting SoFiUSD into tokenized deposits, which could enable users to earn interest and access FDIC insurance on those deposits under separate account terms. The company also plans to support cross-border value transfers using blockchain rails, targeting 24/7 payments with fewer delays and lower costs than legacy systems. SoFi said SoFiUSD will also be listed on Bullish, its first centralized exchange partner, to facilitate institutional trading, pricing stability and efficient execution for high-volume transactions. Members can access SoFiUSD starting today, with full availability expected by early June as users update to the latest version of the app.