SoFi Becomes First U.S. National Bank to Issue Stablecoin on Public Blockchain
SoFi has made history as the first U.S. nationally chartered retail bank to issue a dollar-backed stablecoin, SoFiUSD, on a public, permissionless blockchain. This marks a pivotal moment in the integration of traditional banking with decentralized finance.
The stablecoin, fully reserved and backed one-to-one by cash held at the Federal Reserve, positions SoFi not just as an issuer but as a potential infrastructure provider for other financial institutions. Regulatory acceptance of blockchain-based instruments is accelerating, with federal agencies now actively incorporating them into the banking system.
Initially available for internal settlements, SoFiUSD will roll out to customers in coming months. The launch underscores a broader shift toward institutional adoption of stablecoins as viable payment rails.
