Wednesday’s launch put SoFiUSD into SoFi’s consumer banking app for 14.7 million members, letting users buy, sell, hold and convert the dollar-pegged token alongside savings, spending, borrowing and investing.
SoFi said the stablecoin is fully backed 1:1 by US dollars at SoFi Bank, runs on Ethereum and Solana, and will reach full availability by early June as customers update the app.
The rollout makes SoFi the first US national bank to embed a bank-issued stablecoin directly in a consumer banking app, extending a product first announced for enterprise partners in December 2025 and added to Mastercard’s network in March 2026.
SoFi framed the move as a way to pair blockchain payment speed with regulated bank trust, and investors welcomed it—its stock opened more than 7% above the previous close on Friday.
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