SoFi Brings Its Bank-Issued Stablecoin to Polygon’s Payments Stack
Summary
SoFiUSD, issued by SoFi Bank, is now available on Polygon’s Open Money Stack alongside Ethereum and Solana. SoFi’s more than 17 million members can use the token in the SoFi app without a separate wallet or manual bridging. The dollar-redeemable stablecoin can connect to payment rails and local currencies for payouts, settlement and cross-border transfers. SoFi says it already uses SoFiUSD to settle its Mastercard card program. The token is not a bank deposit and is not FDIC- or SIPC-insured.
