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SoFi unveils the first bank-issued stablecoin for enterprise payments

SoFiUSD is fully backed 1:1 by Federal Reserve cash and offers an open stablecoin infrastructure for banks and fintechs with plans for cross-chain expansion.

  • SoFi Bank, N.A. launched SoFiUSD on Thursday, becoming the first U.S. national bank to offer open access to its stablecoin infrastructure.
  • Companies today struggle with slow settlement, fragmented providers and unverified reserve models, gaps SoFi says it is addressing using its national bank charter and reserve model.
  • SoFiUSD is structured as fully backed 1:1 by cash held at the Federal Reserve, enabling immediate redemption and live on the ethereum blockchain for 24/7 movement of funds.
  • SoFiUSD will be available for internal use now, with a broader rollout to SoFi members in the coming months, and other banks and fintechs can white‑label interchangeable versions.
  • The FDIC board voted Tuesday to propose Genius Act rules for stablecoins, while JPMorgan launched JPM Coin last month and Citi and PNC plan to enter the market amid uncertainty for roughly 2,700 banks.
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bankingdive.com broke the news in on Thursday, December 18, 2025.
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