SoFi Brings Bank-Issued Stablecoin to Nearly 15 Million Users in Major Crypto Expansion

Key Highlights

• SoFi has launched its bank-issued stablecoin, SoFiUSD, to nearly 15 million users through its app
• The company says it is the first US national bank to offer a stablecoin directly inside a banking platform
• SoFiUSD is available on both Ethereum and Solana, with additional blockchain integrations planned
• Users can buy, sell, hold, and transfer the stablecoin directly within the SoFi ecosystem
• SoFi plans to introduce tokenized deposits with interest and FDIC-linked protections in future updates
• The move reflects growing competition between banks, fintech firms, and crypto platforms in stablecoins
• Analysts view the launch as another major step toward mainstream integration of blockchain-based finance

SoFi has officially expanded access to its bank-issued stablecoin, SoFiUSD, making the digital dollar product available to nearly 15 million members through the company’s banking app. The rollout represents one of the clearest examples yet of a traditional US-regulated financial institution integrating blockchain-based assets directly into mainstream consumer banking services.

According to the company, users can now buy, sell, hold, and transfer SoFiUSD directly within the SoFi platform. The stablecoin is currently operating on both the Ethereum and Solana blockchains, with additional network integrations expected in the future.

SoFi says the launch makes it the first US national bank to offer a stablecoin directly through a banking application connected to public blockchain infrastructure. The company has positioned the product as a bridge between regulated banking services and blockchain-based payments technology.

The stablecoin is designed to maintain a 1:1 peg with the US dollar and is backed by liquid reserve assets held by SoFi Bank. The company also says regular reserve attestations are conducted by an independent US-certified public accountant.

Chief executive Anthony Noto described the product as part of a broader effort to combine the speed and flexibility of blockchain payments with the trust and regulatory structure of traditional banking infrastructure.

The launch is part of a wider crypto expansion strategy underway at SoFi. In addition to enabling stablecoin transactions, the company plans to allow users to convert SoFiUSD into tokenized deposits that could earn interest while also qualifying for FDIC insurance protections when held within the banking system.

SoFi also plans to integrate cross-border transfers and institutional trading access through crypto exchange partnerships, including a planned listing of SoFiUSD on the Bullish exchange.

The development comes as stablecoins become one of the fastest-growing segments of the digital asset industry. Financial institutions, payment companies, and fintech firms are increasingly exploring blockchain-based dollar infrastructure as regulators move closer toward establishing formal stablecoin frameworks in the United States.

Industry analysts view the launch as strategically significant because it brings blockchain functionality directly into a mainstream banking environment rather than requiring customers to use separate crypto-native platforms. This could potentially accelerate consumer familiarity with digital assets without exposing users to the volatility typically associated with cryptocurrencies such as Bitcoin or Ethereum.

At the same time, questions remain about how consumers will ultimately use bank-issued stablecoins at scale. While stablecoins have become central to crypto trading and decentralized finance, mainstream payment adoption has developed more slowly than many early projections anticipated.

The launch also highlights intensifying competition between banks, fintech companies, and crypto firms to control future digital payment infrastructure. Stablecoins are increasingly viewed not just as crypto assets, but as potential settlement layers for remittances, global transfers, card payments, and tokenized financial systems.

For now, SoFi’s rollout represents one of the most direct integrations yet between regulated banking and public blockchain infrastructure, signaling how rapidly stablecoins are moving from niche crypto tools toward broader financial system adoption.