SoFi Moves Its $25 Billion Card Program to Stablecoin Settlement on Mastercard

Wed, 23 Sep 2026 00:00:00 +0000

SoFi Bank has switched its whole card program to stablecoin settlement on Mastercard’s network. That’s roughly $25 billion a year in debit and credit card volume, now settling in SoFiUSD, the dollar token SoFi issues itself. It went live on September 22.

SoFi says it’s the first national bank to do this. Who’s doing it is what makes it news. SoFi Bank, N.A. holds a national charter and is supervised by the Office of the Comptroller of the Currency. So a regulated bank is moving its own payments business onto a blockchain, using a token it issues itself.

Mastercard on Blockchaining.org

SoFi Moves Its $25 Billion Card Program to Stablecoin Settlement on Mastercard