SoFi Shares Rise as Bank Goes Live With Stablecoin Card Settlement
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SoFi Technologies (NASDAQ: SOFI), the US digital finance platform that offers lending, banking, investing and crypto services, rose after its banking arm went live with stablecoin settlement across its whole debit and credit card programme. SoFi Bank, N.A. became the first nationally chartered, FDIC-insured US bank to run live stablecoin settlement in production on a major card network. Shares closed Tuesday at $17.16, up 1.12% from Monday's close of $16.97, having ranged between $17.005 and $17.96 during the session. The stock remains down around 35% so far this year and trades in the lower half of its 52-week range of $14.88 to $32.73. The migration covers SoFi's entire card programme, which is expected to process more than $25bn in annualised payment volume, moving it onto blockchain rails via Mastercard, the global card payments network hosting the settlement. Try IG's platform with £10,000 in virtual funds and practise trading without putting your own money at risk. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. Build your knowledge with IG Academy educational content, then use a demo account to practise what you've learned on the IG platform. Spread bets and CFDs are complex instruments and come with a high...
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