Roughly $30 billion in stablecoins now changes hands daily, according to McKinsey. That scale is pushing traditional payment networks to integrate regulated digital dollars directly into their settlement infrastructure.
SoFi Technologies announced it has expanded its partnership with Mastercard to position SoFiUSD as a settlement currency across Mastercard’s global network. SoFiUSD is issued by SoFi Bank, an OCC-regulated and FDIC-insured institution, fully backed 1:1 by cash reserves, and deployed on Ethereum.
Will Stablecoin Settlement Redefine Card Infrastructure?
Under the collaboration, issuers and acquirers will explore settling card-based transactions in SoFiUSD, including cross-border remittances and business-to-business transfers. SoFi Bank also plans to settle its own credit and debit transactions conducted over the Mastercard network in the stablecoin, according to a company statement.
The token is expected to integrate with Mastercard’s Multi-Token Network, which connects traditional payment rails with digital assets and tokenized deposits. Stablecoin issuance doubled in 2025 compared with the prior year, McKinsey reported, while a BVNK study conducted with Coinbase and Artemis found more than 75% of crypto holders would open a stablecoin wallet if offered by their bank or fintech provider.
“SoFiUSD is at the heart of our strategy to make it faster, cheaper, and safer for people around the world to move money,” said Anthony Noto, CEO of SoFi.
Sherri Haymond, Global Head of Digital Commercialization at Mastercard, said enabling SoFiUSD across the network expands how regulated digital currencies operate at global scale, linking blockchain-based settlement with established payment infrastructure.
The initiative follows SoFi’s December launch of SoFiUSD, described as the first stablecoin issued by a nationally chartered U.S. bank on a public blockchain. Galileo, SoFi’s technology platform, is expected to be among the first to offer SoFiUSD settlement to card program clients and issuing banks. The next catalyst will be regulatory clarity and measurable adoption by issuers choosing stablecoin settlement over traditional correspondent banking flows.
