SoFi Leads Blockchain Charge in Card Payments as DigiTap Gains Early Momentum

SoFi has taken a major step towards integrating blockchain technology into its everyday card payments. The bank has started settling debit and credit card transactions on Mastercard's global network using SoFiUSD, a dollar-backed stablecoin issued by the bank. This move is significant as it takes stablecoins beyond trading and into the settlement layer behind real card activity.

The system is already processing transactions on blockchain infrastructure, with over $25 billion in annualized volume expected to be processed through the full card program. SoFi and Mastercard are also exploring wider uses for stablecoins, including merchant settlement, cross-border payments, and remittances.

DigiTap, a smaller project, is giving retail investors an early opportunity to get involved with this trend. Its beta app is already downloadable through the App Store and Google Play, and over 10,000 cards have been issued before its token reaches the wider exchange market.