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SoFi to Enable SoFiUSD Settlement on Mastercard Network via Galileo Platform

SoFi, the first nationally chartered U.S. bank to offer Bitcoin and cryptocurrency trading, announced on March 3 plans to support SoFiUSD as a settlement currency on Mastercard's global payment network, BlockBeats reports. The company's Galileo technology platform is expected to be among the earliest to provide SoFiUSD settlement options to payment card clients and issuing banks. Mastercard and SoFi also plan to explore additional interoperability use cases involving stablecoins, fiat currencies and tokenized assets, including programmable treasury tools and payment setups, subject to regulatory considerations.
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