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SoFi Technology launches stablecoin SoFiUSD

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May 28, 2026

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SoFi Technologies Inc. announced that its SoFiUSD stablecoin is now available for members to buy, sell or convert on the app. This service is available to the financial institution's nearly 15 million members, according to a press release.

SoFiUSD is valued at 1:1 for U.S. dollars and is on the Ethereum and Solana blockchains. SoFi Bank maintains all the assets to support this stablecoin. Members can convert the stablecoin into tokenized deposits to earn interest. This is part of the bank's efforts to improve access to digital financial tools.

"At SoFi, we believe we can combine the speed and versatility of the blockchain with the trust of a bank to improve how money moves around the world," Anthony Noto, CEO of SoFi, said in the release. "People no longer have to choose between blockchain technology and regulated banking products. With SoFiUSD, we're giving our members a single place to buy, hold, and pay with digital assets in the same app they already use to save, spend, borrow, and invest."

In July 2025, President Donald Trump signed theGENIUS Act, which established a regulatory regime for stablecoins.