SoFi begins live stablecoin settlement for its debit and credit card transactions on the Mastercard network, using its U.S. dollar-backed stablecoin, SoFiUSD. The rollout is part of a broader payments plan in which SoFi Bank, N.A. migrates its card program to stablecoin-based settlement.
PYMNTS reports that SoFi says the card program is targeting $25 billion in annualized volume and that the stablecoin settlement is implemented across both its debit and credit card offerings. The Block similarly highlights the launch as “step one,” framing it as the start of a wider rollout beyond settlement on cards. Both outlets tie the initiative to Mastercard’s infrastructure and present it as an initial phase of SoFi’s stablecoin integration.
While the outlets align on the launch details, they differ slightly in emphasis: PYMNTS focuses more on the migration of the entire card program as the first stage, while The Block underscores the expected annualized volume figure and the live nature of the settlement.
