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SoFi unveils the first bank-issued stablecoin for enterprise payments
SoFi Bank becomes the first U.S. national bank to launch a stablecoin, positioning SoFiUSD as a faster, safer alternative to crypto-native tokens.
Dec 18, 2025, 1:00 p.m.
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What to know:
- SoFi has launched SoFiUSD, a U.S. dollar stablecoin backed 1:1 by cash held at the Federal Reserve and issued by its FDIC-insured national bank.
- The coin runs on a public blockchain, offering instant, low-cost settlement and opening the door to white-labeled stablecoin services for fintechs, banks and enterprises.
- Initially limited to internal use, SoFiUSD is expected to roll out to SoFi members in the coming months as part of a broader payments strategy.
SoFi (SOFI) has launched a U.S. dollar stablecoin, SoFiUSD, in a bid to bring faster, cheaper money movement to banks, fintechs and enterprise platforms.
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The coin is issued by SoFi Bank, a nationally chartered and FDIC-insured institution, making it the first U.S. national bank to offer open access to its stablecoin infrastructure.
Last month, JPMorgan launched its deposit token, JPM Coin, on Base.
SoFiUSD will be available for internal use for now with a broader rollout to SoFi members expected in the coming months.
Unlike stablecoins issued by crypto-native firms, SoFiUSD is fully backed 1:1 by cash held at the Federal Reserve, meaning users can redeem it immediately without facing credit or liquidity risk. The coin is live on a public blockchain, which allows for 24/7 movement of funds at near-instant speeds and low cost.
The infrastructure also opens the door for SoFi’s partners, including banks, card networks or software firms, to issue their own white-labeled stablecoins or plug SoFiUSD into their existing payment flows. This service leans on SoFi’s banking license and reserve model, which the company says gives it an edge over less regulated stablecoin issuers.
“We’re using the infrastructure we’ve built over the last decade and applying it to real-world challenges in financial services,” said SoFi CEO Anthony Noto in a statement. “Companies today struggle with slow settlement, fragmented providers, and unverified reserve models. SoFi is helping address these gaps.”
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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