- SoFi Bank is moving its full debit and credit card program to stablecoin settlement using SoFiUSD.
- The program is expected to process more than $25B in annualized volume.
- SoFiUSD is redeemable 1:1 for U.S. dollars.
- Merchants do not need to hold stablecoins or build new infrastructure; they can receive funds directly into a SoFi Bank account and withdraw as cash.
- SoFi and Mastercard are exploring cross-border payments and remittances next.
- SoFi is in discussions with major U.S. retailers and technology platforms.
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