SoFi to launch SoFiUSD stablecoin on Solana as bank expands crypto payments push
SoFi is launching its SoFiUSD stablecoin on Solana, expanding the bank’s crypto payments strategy as it pushes stablecoin infrastructure into faster and lower cost settlement networks.
Ben Reynolds, SoFi’s head of business banking, announced the move during a fireside chat at Solana Accelerate Miami 2026, where SoFi was listed on the agenda alongside payments, stablecoin, and institutional finance discussions.
“Solana is the right chain to use for payments because of the cost, the settlement speed and ultimately the throughput,” Reynolds said.
SoFi launched SoFiUSD in December 2025 as a fully reserved US dollar stablecoin issued by SoFi Bank, N.A. The company said at the time that SoFiUSD made it the first national bank to issue a stablecoin on a public permissionless blockchain.
The stablecoin is designed for banks, fintechs, and enterprise platforms, with SoFi positioning it for 24/7 settlement, card networks, retailers, remittances, and Galileo partners.
SoFi has been rebuilding its crypto business after returning to digital assets in 2025. In November, the company launched consumer crypto trading, saying it became the first nationally chartered, FDIC insured bank to let customers buy, sell, and hold crypto in the same app used for banking, borrowing, and investing.
The Solana expansion also follows SoFi’s March partnership with Mastercard to enable SoFiUSD settlement across Mastercard’s network. Mastercard said SoFiUSD is issued by an OCC regulated insured depository institution and fully reserved 1:1 by cash.
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