SoFi Expands Stablecoin Push With SoFiUSD Launch on Ethereum and Solana

By Matt Brienen

Published: 2026-05-27T18:54:51+00:00

SoFi is deepening its crypto expansion with the rollout of SoFiUSD, a dollar-backed stablecoin now available across both the Ethereum and Solana blockchains. The move makes SoFi one of the first federally chartered U.S. banks to bring a bank-issued stablecoin directly into a consumer-facing banking app, further blurring the lines between traditional finance and on-chain infrastructure.

The stablecoin is redeemable 1:1 for U.S. dollars and backed by liquid reserves held through SoFi Bank, N.A. According to the company, members can now buy, sell, hold, and convert SoFiUSD directly inside the SoFi app, with future plans including tokenized FDIC-insurable deposits, 24/7 cross-border transfers, and broader institutional settlement capabilities.

Ethereum serves as the original launch network for SoFiUSD, while Solana was added as SoFi expanded its payments and settlement ambitions. Company executives specifically highlighted Solana’s low fees, high throughput, and fast settlement speeds as attractive infrastructure for real-world payment flows and enterprise-grade stablecoin settlement.

The rollout also reflects how quickly stablecoin adoption is accelerating among regulated financial institutions following the passage of U.S. stablecoin legislation and clearer regulatory frameworks. SoFi previously re-entered the crypto market in 2025 after winding down earlier crypto offerings tied to banking charter requirements, later relaunching crypto trading and expanding into blockchain-based payments infrastructure.

Beyond retail banking, SoFi appears to be positioning SoFiUSD as broader financial infrastructure for banks, fintechs, and enterprise platforms. The company has already discussed integrations for merchant settlement, remittances, card networks, and institutional liquidity flows, while partnerships tied to Mastercard and crypto exchange Bullish point toward ambitions well beyond a simple in-app stablecoin product.