SoFi Stock Surges After Launching Dollar-Pegged Stablecoin on Ethereum

SoFi just dropped a crypto bomb—and Wall Street's buying it. The fintech giant's new dollar-pegged stablecoin hit Ethereum this week, sending its stock price climbing as traditional finance gets another taste of decentralized rails.

The Stablecoin Playbook

Forget vague "blockchain initiatives." SoFi went straight for the jugular with a fully-backed dollar stablecoin—digital cash that lives on Ethereum but mirrors the greenback in your pocket. No speculative token, no governance drama. Just a clean, regulated bridge between banking and DeFi.

Why TradFi Can't Look Away

Banks used to scoff at stablecoins. Now they're scrambling to build them. Why? Because moving money on Ethereum is faster and cheaper than legacy systems—and customers are demanding it. SoFi's move isn't just innovation; it's survival. One cynical observer might note it's the same old rent-seeking, just with a blockchain wrapper.

The Market's Verdict

Investors voted with their wallets immediately. The stock bump tells the real story: when a regulated player embraces crypto infrastructure, markets reward the boldness. It's not about replacing the dollar—it's about making it programmable.

Watch what happens when a fintech with millions of users starts moving value on-chain. The old guard's moats just got a lot shallower.

TLDR

• SoFi Technologies launched SoFiUSD, a dollar-pegged stablecoin on Ethereum for commercial and consumer use
• The stablecoin enables near-instant, low-cost fund settlement for partners including card networks, retailers, and banks
• SoFiUSD is issued by SoFi Bank and backed by cash reserves held at the Federal Reserve
• SoFi stock has jumped 64% this year as the company expands its crypto offerings
• The launch follows SoFi’s November relaunch of consumer crypto trading with 30 available cryptocurrencies

SoFi Technologies dropped news Thursday that it’s launching its own stablecoin. The company calls it SoFiUSD, and it’s pegged to the U.S. dollar.

The future of on-chain settlement is here.

Today we launched SoFiUSD, a fully reserved #stablecoin issued by SoFi Bank, N.A., positioning us as a stablecoin infrastructure provider for other banks, fintechs, and enterprise platforms.

We are the first nationally chartered…

— SoFi (@SoFi) December 18, 2025

The move marks another step in SoFi’s return to cryptocurrency after shutting down its crypto offering in 2023. The company relaunched consumer crypto trading just last month.

SoFiUSD will roll out on ethereum first. The company plans to expand the token to other blockchains later.

SoFi Technologies, Inc., SOFI

SoFi Bank will issue the stablecoin, making it one of the first national banks to launch a stablecoin on a public blockchain. The Office of the Comptroller of the Currency regulates SoFi Bank.

The stablecoin comes with full cash backing. SoFi holds those reserves at the Federal Reserve for immediate redemption.

Card networks, retailers, and banks can use SoFiUSD to MOVE money around the clock. Settlement happens almost instantly at fractional-cent costs.

CEO Anthony Noto said companies struggle with slow settlement times and fragmented providers. The stablecoin aims to fix those problems.

SoFi will use SoFiUSD in its consumer crypto trading business. The company also plans to deploy it for international money transfers and point-of-sale services.

Commercial Applications Drive Strategy

The stablecoin infrastructure lets companies create white-labeled versions. SoFi members will get broader access to SoFiUSD in coming months, though it’s already live for institutional settlement.

The initial mint started at $10,000. SoFi says it’s in advanced talks with multiple institutions about using the stablecoin.

SoFi plans to share yield with SoFiUSD holders and partners. The yield comes from cash reserves parked in its Federal Reserve account.

The crypto expansion comes as regulatory conditions improve. President TRUMP signed the Genius Act in July, creating a stablecoin regulatory framework.

Visa announced Tuesday it WOULD let banks settle transactions with USDC stablecoin in the U.S. Financial technology company Fiserv launched its own stablecoin called FIUSD earlier this year.

Market Response Stays Positive

SoFi stock climbed 1.6% in premarket trading Thursday. Shares have gained 64% year-to-date through Wednesday’s close.

The Nasdaq Composite Index ROSE 18% over the same period. SoFi’s outperformance reflects investor appetite for its crypto strategy.

The stock changed hands around $25 on Thursday. Share price has soared 75% over the past six months.

SoFi’s consumer crypto platform now offers trading in 30 different cryptocurrencies. Bitcoin, Ethereum, and solana are among the available assets.

Members can purchase crypto directly from their checking and savings accounts. The company suspended crypto trading in 2023 as a condition of receiving its national bank charter.

Noto said in January that SoFi would be “incredibly aggressive” with crypto offerings under the Trump administration. The stablecoin launch delivers on that promise.

Last week, the Office of the Comptroller of the Currency granted conditional approval for national banking charters to several stablecoin issuers. SoFi now joins that group with its Thursday launch.