SoFi unveils the first bank-issued stablecoin for enterprise payments

SoFi Bank becomes the first U.S. national bank to launch a stablecoin, positioning SoFiUSD as a faster, safer alternative to crypto-native tokens. What to know : SoFi has launched SoFiUSD, a U.S. dollar stablecoin backed 1:1 by cash held at the Federal Reserve and issued by its FDIC-insured national bank. The coin runs on a public blockchain, offering instant, low-cost settlement and opening the door to white-labeled stablecoin services for fintechs, banks and enterprises. Initially limited to internal use, SoFiUSD is expected to roll out to SoFi members in the coming months as part of a broader payments strategy.