Stablecoins Disrupt Traditional Banking Rails in $25 Billion Deal

Stablecoins are increasingly being used to settle payments behind existing card networks, allowing money to move around the clock without changing how consumers pay.

SoFi has begun settling debit and credit card transactions with Mastercard using its SoFiUSD stablecoin.

The bank is migrating its entire card program, which it expects to process more than $25 billion in annualized volume, to the system.

This shift does not remove intermediaries from the card settlement process but provides an alternative blockchain-based settlement rail for customers.