SoFi has introduced its dollar-backed stablecoin SoFiUSD to nearly 15 million members through its banking app. The token is available on Ethereum and Solana and is redeemable one-to-one for U.S. dollars via SoFi Bank.

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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.

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