Personal finance firm SoFi has introduced SoFiUSD, a stablecoin pegged to the US dollar, marking it as the first national bank to issue such a coin on a public, permissionless blockchain. The launch aims to provide infrastructure for banks, FinTechs, and enterprises to manage funds more efficiently. SoFiUSD will soon be accessible to all SoFi members.
SoFi announced the launch of SoFiUSD on December 18, 2025, positioning itself as a pioneer in blockchain-based financial services. As the first nationally chartered bank to issue a stablecoin on a public, permissionless blockchain, SoFi enables partners to transfer funds around the clock with near-instant settlement at costs of mere fractions of a cent. This infrastructure supports banks, FinTech companies, and enterprise platforms in improving liquidity management and offering quicker, more transparent services to customers.
Anthony Noto, CEO of SoFi, emphasized the transformative potential of the technology. "Blockchain is a technology super cycle that will fundamentally change finance, not just in payments, but across every area of money," he stated. Noto further explained, "With SoFiUSD, we’re using the infrastructure we’ve built over the last decade and applying it to real-world challenges in financial services. Companies today struggle with slow settlement, fragmented providers, and unverified reserve models. SoFi is helping address these gaps by combining our regulatory strength as a national bank with transparent, fully reserved on-chain technology to provide a safer and more efficient way for partners to move funds."
The stablecoin is fully reserved and backed by US dollars, addressing common concerns in the crypto space. In regions with unstable local currencies, SoFi envisions SoFiUSD serving as a secure dollar-denominated asset within consumer debit or secured credit accounts.
This move builds on SoFi's recent crypto advancements. Last month, it became the first such bank to offer consumer cryptocurrency trading. Back in June, SoFi integrated crypto-powered features into its digital services, signaling a broader push into blockchain offerings.