SoFi begins stablecoin settlement on Mastercard network for program expected to exceed $25 billion in annualized volume
SoFi launches live SoFiUSD stablecoin settlement on Mastercard's network, with its card program targeting $25 billion in annualized volume.
SoFi has launched live stablecoin settlement on Mastercard's payment network using its proprietary stablecoin, SoFiUSD. The fintech company's card program, which now processes settlements through the digital asset, is projected to surpass $25 billion in annualized transaction volume, according to reporting by The Block.
The development marks a significant step in SoFi's broader push into blockchain-based financial infrastructure. SoFi, originally known as a student loan refinancing platform before evolving into a full-service digital bank, has been expanding its product offerings in recent years. The integration of SoFiUSD into Mastercard's established settlement rails represents one of the more concrete deployments of stablecoin technology within a major consumer payments network.
The move reflects a growing trend of traditional financial institutions and fintech companies exploring stablecoins as practical tools for payment settlement rather than speculative assets. With a $25 billion annualized volume target, the program would place SoFi among the more substantial institutional stablecoin users in the market. It also signals that Mastercard continues to deepen its engagement with digital asset infrastructure following earlier announcements about stablecoin and blockchain payment initiatives.
Industry observers will be watching whether the program achieves its volume targets and how regulators respond, particularly as stablecoin legislation remains under active discussion in the United States. The success or shortcomings of this rollout could influence how other card issuers approach similar integrations.
Source: The Block
