SoFi and Mastercard Expand Partnership to Enable SoFiUSD Stablecoin Settlement
SoFi Technologies, Inc. today announced an expansion of its partnership with Mastercard to enable the use of SoFiUSD, a fully USD-backed stablecoin, as a settlement option across Mastercard’s global payment network. SoFiUSD is the first stablecoin issued by a licensed and insured U.S. bank on a public blockchain without restrictions, offering a secure and transparent financial environment.
The enhanced partnership focuses on enabling issuers and acquirers to settle card transactions using SoFiUSD, providing faster settlement options for Mastercard clients and paving the way for quicker fund transfers, including cross-border payments and B2B transactions. The Mastercard Multi-Token Network is expected to support the stablecoin, enhancing interoperability between digital assets and fiat currency while expanding user options.
SoFi Bank, N.A. plans to use the stablecoin for credit and debit card settlements across the Mastercard network, while SoFi’s technology platform, Galileo, will be among the first to offer card issuers and clients the option to settle transactions using SoFiUSD. The partnership also aims to explore additional interoperability use cases between stablecoins, traditional currency, and tokenized assets, including programmable treasury applications, remittances, and payment of dues.
Anthony Noto, CEO of SoFi, stated:
"SoFiUSD is central to our strategy to make money movement faster, cheaper, and safer globally. By enabling SoFiUSD as a settlement currency on the Mastercard network, card issuers and acquirers can settle transactions instantly for millions of businesses worldwide, 24/7. This is just the beginning of our efforts to bring SoFi’s advanced banking infrastructure to the digital commerce world."
Sherry Hammond, Global Head of Commercial Digitization at Mastercard, added:
"By working with SoFi to enable SoFiUSD across our network, we are expanding the global use of trusted digital currencies. Integrating stablecoin settlement provides regulated, reliable, and secure solutions that meet the expectations of consumers, businesses, and financial institutions, while increasing flexibility in payment and collection options."
Stablecoins are a growing force in global financial services, with daily transaction volumes reaching approximately $30 billion. Issuance of stablecoins doubled in 2025 compared to the previous year. Studies indicate that over half of digital asset holders used stablecoins last year, and more than 75% would open a stablecoin wallet if offered through banks or fintech applications.
SoFiUSD is issued by SoFi Bank, N.A., a licensed and insured U.S. depository institution regulated by the OCC, and fully backed 1:1 in cash to ensure immediate redemption. This provides liquidity for merchants and issuers on the Mastercard network. SoFi and Mastercard plan to explore further use cases, including card programs, cross-border transfers, and payments, subject to regulatory requirements and Mastercard network rules.