U.S. fintech company SoFi has started using SoFiUSD to settle debit and credit card transactions on the Mastercard global payment network and plans to migrate its entire card program to blockchain settlement. The annualized transaction volume for related services is expected to exceed $25 billion. SoFi claims to be the first bank to officially launch stablecoin settlement on the Mastercard network. Merchants can instantly receive settlement funds through SoFi's Big Business Banking platform without holding SoFiUSD or changing their payment systems, and they can withdraw cash 24/7 for free. The two parties also plan to offer this service to other issuing banks and explore applications in cross-border payments and remittances. (The Block) https://www.(wublock123.com)/news/sofiusd-stablecoin-settlement-on-mastercard-network-68814