The first stablecoin directly issued by a 'national bank' in the U.S. has launched on Ethereum and other blockchains. First, let’s take a look at SoFi’s background. It’s an app-based internet bank in the U.S. The newly launched stablecoin is called SoFiUSD (also abbreviated as SoFiD), and 1 SoFiUSD equals 1 USD (1:1 pegged). SoFi has nearly 15 million users, and these users can directly use it to transfer funds on Ethereum and other blockchains 24/7, without the waiting times of traditional banks. This is a significant event for Ethereum as well. Previously, stablecoins (like USDT, USDC) were mostly issued by third-party companies. Now, a bank is directly issuing one. And not just any bank—a legitimate national bank (regulated by the OCC and backed by CPA audits). Since SoFi already offers traditional bank accounts, this time it has bridged its bank accounts with the Ethereum blockchain (essentially tokenizing bank deposits, which is also a form of RWA). Users can enjoy the security of traditional banking services while also benefiting from the convenience and flexibility of blockchain services (Note: SoFiUSD itself is not FDIC-insured). For SoFi, this helps retain existing customers and attract new ones. If successful, this could push other traditional banks to accelerate their blockchain adoption. For Ethereum, it means the on-chain integration of traditional finance is speeding up, and the amount of on-chain assets it supports is growing.