SoFiUSD is the first stablecoin issued by a national bank to be available directly through a major banking platform. It operates on both Ethereum and Solana.
SoFi Has Made Its Stablecoin Available On Its Retail Banking App
SoFi, a U.S.-based financial technology company and national bank, has added its stablecoin to the SoFi app, making it available to its almost 15 million users. This announcement was made in a recent press release.
SoFi introduced its stablecoin, SoFiUSD, in December, making it the first national bank in the United States to offer one on a public blockchain. Initially, the token was limited to internal use and for developers, but SoFi promised wider access soon. Now, it seems that wider availability is finally happening.
As a researcher following the fintech space, I’m excited to see SoFi now allowing its members to directly buy, sell, and hold SoFiUSD within their app. What’s particularly noteworthy is that this is the first time a stablecoin issued by a U.S. national bank is available for use right inside a banking app – a significant step forward for the integration of digital currencies and traditional finance.
As a researcher in the crypto space, I’ve been looking into stablecoins, which are cryptocurrencies designed to maintain a stable value relative to a traditional currency. SoFiUSD, as the name suggests, is one of these – it’s backed by the US dollar, which is currently the most popular base for these types of digital assets. Right now, you can find SoFiUSD operating on both Ethereum and Solana, two of the leading blockchains for handling transactions.
Anthony Noto, SoFi CEO, said:
You don’t have to pick between the innovation of blockchain and the security of traditional banking anymore. SoFiUSD lets our members conveniently buy, hold, and use digital assets right within the same app they already use for all their financial needs – saving, spending, borrowing, and investing.
SoFi isn’t new to the world of digital currencies. Back in November, they were the first bank to let US customers trade cryptocurrencies, as reported by Bitcoinist. This latest launch of SoFiUSD is just the beginning; the company plans to further integrate stablecoin technology throughout its services.
As a researcher following SoFi’s developments, I’ve learned they’re rolling out some exciting new features soon. Over the next few weeks, they plan to let users convert their SoFiUSD into tokenized deposits. This will also enable 24/7 global access to funds through the blockchain, and they’re preparing to launch their stablecoin on Bullish, their first centralized exchange partner. It’s a significant step toward broader accessibility and functionality.
The stablecoin is expected to expand to other blockchain networks besides Ethereum and Solana, but details about which ones and when this will happen haven’t been announced yet.
Ethereum Has Declined Under The $2,000 Level
The cryptocurrency market experienced a significant drop yesterday, and Ethereum, the second-largest cryptocurrency, was one of the hardest hit.
Ethereum’s price has fallen below $2,000 for the first time since late March, dropping over 4% in the last day.
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2026-05-29 10:11