Overview
- Issued by SoFi Bank, N.A., the SoFiUSD stablecoin positions the company as an infrastructure provider for banks, fintechs and enterprises.
- SoFi says reserves are held in cash at the Federal Reserve for 1:1 backing and immediate redemption, reducing credit and liquidity risk.
- The token is live on Ethereum for internal and institutional settlement now, with broader access for SoFi members expected in the coming months.
- Partners can plug SoFiUSD into payment flows or issue white‑labeled stablecoins, while SoFi plans uses spanning crypto trading, remittances and merchant payments.
- SoFi plans multi-chain expansion and may share reserve yield with holders and partners; the initial mint began at $10,000 and the firm reports advanced talks with institutions.