Mastercard and SoFi Launch Stablecoin Settlement Service

SoFi Technologies and Mastercard have announced that stablecoin settlement is now available through SoFiUSD on Mastercard's global payments network. This move follows earlier support for stablecoins such as Ripple's RLUSD and Circle's USDC.

The integration brings the ability to settle transactions using SoFiUSD, a stablecoin issued by SoFi Bank, across its debit and credit card program.

This development is significant as it expands the use of stablecoins in cross-border payments, making it easier for merchants and consumers to conduct international transactions.