SoFiUSD Stablecoin Goes Live for Commercial Clients

SoFi Technologies has achieved a significant milestone in its digital banking efforts. The company's SoFiUSD stablecoin is now live on its Q2 earnings call, allowing commercial clients to settle transactions in real-time through its Big Business Banking platform on the Solana network.

This move marks seven months since SoFi became the first nationally chartered US bank to issue a stablecoin on a public blockchain. The company's enterprise product, Big Business Banking, began processing transactions on the SoFi Exchange Network during the quarter, enabling commercial clients to move money in real-time, 24/7 through SoFiUSD.

The successful implementation of SoFiUSD is seen as a key step towards establishing it as settlement infrastructure for other banks, fintechs, and enterprise platforms. In March, SoFi announced that SoFiUSD would be enabled as a settlement option across Mastercard's global payments network, with the stablecoin opening to its full membership in June.

The news comes within a record quarter for SoFi, with adjusted net revenue reaching $1.2 billion, up 40% year-over-year, and net income climbing 61% to $156.6 million. Loan originations also hit a best-ever $14.8 billion, with the company raising its full-year guidance.

Despite this positive performance, SoFi's stock price fell about 10% to around $15 in Wednesday morning trading, extending a slide that has seen the stock roughly 50% below its 2026 highs.