SoFi and Mastercard Partner to Enable Stablecoin Settlements via SoFiUSD
SoFi Technologies has forged a strategic partnership with Mastercard to integrate its SoFiUSD stablecoin for card transaction settlements across Mastercard's global payments network. This marks a significant milestone as SoFiUSD becomes the first stablecoin issued by a US nationally chartered, insured depository institution operating on a public blockchain.
The collaboration enables SoFi Bank to settle its own Mastercard credit/debit transactions in SoFiUSD, while Galileo—a SoFi subsidiary—will extend this capability to client banks. The stablecoin's 1:1 cash-backed reserves and 24/7 settlement functionality address longstanding latency limitations of traditional banking rails.
Future use cases under exploration include cross-border remittances, B2B transfers, and programmable treasury applications. The deal underscores growing institutional recognition of blockchain's efficiency advantages in payment infrastructure.
