SoFi Bank Launches Stablecoin Settlement Across Mastercard Network

SoFi Bank has completed its migration to blockchain settlement for its entire $25 billion card programme using its own SoFiUSD stablecoin. The fintech company partnered with Mastercard to bring this technology live across its debit and credit card programme.

The move is significant as it provides a new way for businesses to manage settlement and liquidity through trusted payment infrastructure, while also paving the way for broader adoption of bank-issued stablecoins in payments.

According to Anthony Noto, CEO of SoFi, merchants can now receive settlement funds instantly in a SoFi Bank account, with the option to withdraw cash at zero cost. This is made possible through SoFi's Big Business Banking platform, which enables businesses to access their money via the speed of blockchain.

Sherri Haymond, global head of digital commercialisation at Mastercard, added that this partnership marks a significant step towards implementation, bringing regulated stablecoin settlement into a live production environment while preserving trust, scale, and safeguards expected from Mastercard.