SoFi Goes Live With Stablecoin Settlement for $25 Billion Card Program
Article excerpt
SoFi Technologies, Inc. ( SOFI ) and Mastercard ( MA ) announced on September 22, 2026 that stablecoin settlement is now live across SoFi Bank, N.A.’s debit and credit card program, with settlement running through SoFiUSD, SoFi Bank’s U.S. dollar stablecoin, on Mastercard’s global payments network. SoFi Bank is migrating its entire $25 billion card program to stablecoin settlement of transactions using SoFiUSD, and transactions are live on the blockchain, according to the joint announcement published on SoFi’s investor relations site. The companies said the card program is expected to process more than $25 billion in annualized volume using SoFiUSD. The announcement described SoFi as the first national bank to go live with stablecoin settlement across Mastercard’s network and SoFiUSD as the first stablecoin issued by a nationally chartered bank. According to the announcement, the launch expands how card issuers, acquirers and merchants can manage settlement and liquidity through trusted payment infrastructure and provides a path to broader adoption of bank-issued stablecoins in payments. The companies also said the deployment shows how bank-issued stablecoins can operate alongside existing payment infrastructure. “In six months, SoFi and Mastercard took stablecoin settlement from an idea to a live product that materially improves how money moves for businesses,” said...
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Mastercard said it would support settlement using Circle’s USDC , Paxos-issued PYUSD, USDG and USDP, Ripple’s RLUSD and SoFi’s SoFiUSD across blockchain networks including Arbitrum ( ARB ) , Base, Canton, Ethereum, Polygon ( POL ) , Solana, Tempo and XRPL, with ARQ, CBW Bank, Cross River, Lead Bank and Nuvei expected to be among the first to support stablecoin settlement optionality in the United States and Latin America, and further expansion planned through 2026.
