INTRODUCING | SoFi Becomes First U.S National Bank to Offer a Stablecoin Directly to Retail Customers on a Public Blockchain

SoFi Technologies is taking its crypto ambitions deeper into mainstream finance by rolling out its bank-issued stablecoin, SoFiUSD, to nearly 15 million customers through its banking app in one of the clearest signs yet that regulated lenders are moving aggressively into blockchain-based payments.

The launch comes 3 months after SoFi partnered with BitGo to provide the underlying stablecoin infrastructure and operational framework supporting the rollout of SoFiUSD.

The fintech lender said users will be able to buy, sell, and transfer the dollar-backed token with plans to later integrate yield-bearing features and tokenized deposits. The stablecoin initially runs on Ethereum and Solana positioning SoFi among the first U.S. banks to push a public blockchain-based digital dollar directly to retail customers.

“SoFiUSD competes by offering what crypto-native issuers cannot: the trust, security and oversight that comes with being a nationally chartered bank,” the company spokesperson said.

At the launch of SoFiUSD in December 2025, SoFi CEO, Anthony Noto, said:

“People no longer have to choose between blockchain technology and regulated banking products.”

The launch comes as Washington’s regulatory stance toward stablecoins softens following the passage of the GENIUS Act in 2025 and momentum behind the Clarity Act and broader efforts to formalize rules around tokenized finance.

Analysts say the regulatory shift is accelerating competition among banks, fintechs, and crypto firms seeking a share of the rapidly expanding stablecoin market now valued at more than $300 billion globally.

SoFi had previously used SoFiUSD for enterprise settlements and payments infrastructure but the latest expansion turns the token into a consumer-facing product embedded inside a traditional banking platform. The company also plans to enable conversions between stablecoins and interest-earning tokenized deposits as well as FDIC-insured deposits blurring the line between conventional banking and blockchain-native finance.

The move reflects a wider industry push toward tokenized finance with institutions increasingly treating stablecoins as payment rails rather than speculative crypto assets. Standard Chartered recently projected tokenized assets could reach $4 trillion by 2028 while banks across Europe are also building stablecoin consortiums to challenge the dominance of dollar-backed digital currencies.

Stay tuned to BitKE for deeper insights into stablecoin space.

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