SoFi Launches SoFiUSD Stablecoin for 15 Million Members as First US Bank on a Banking App

SoFi Bank launched SoFiUSD on May 27, 2026 as a national bank-issued stablecoin available in the SoFi app. Nearly 15 million SoFi members can buy, hold, and convert SoFiUSD on Ethereum and Solana, with additional exchange access planned. SoFiUSD is issued by SoFi Bank, N.A., regulated by the Office of the Comptroller of the Currency, and is designed to maintain a 1:1 value against the U.S. dollar. The stablecoin is redeemable directly from SoFi Bank, which maintains liquid assets backing outstanding supply. Independent attestations by a U.S.-licensed certified public accountant aim to provide transparency. SoFi plans to add FDIC-insured tokenized deposits and 24/7 cross-border transfers within weeks.

"SoFi Bank launched SoFiUSD on May 27, 2026, making it the first U.S. national bank-issued stablecoin available on a banking app. Nearly 15 million SoFi members can now buy, hold, and convert SoFiUSD on Ethereum and Solana, with Bullish exchange access coming soon. SoFi plans to add FDIC-insured tokenized deposits and 24/7 cross-border transfers within weeks, expanding stablecoin utility across its full ecosystem."

"The stablecoin is issued by SoFi Bank, N.A., which is regulated by the Office of the Comptroller of the Currency (OCC). SoFiUSD is designed to hold a 1:1 value against the U.S. dollar and is redeemable directly from SoFi Bank. The bank maintains liquid assets to back all outstanding SoFiUSD in circulation. People no longer have to choose between blockchain technology and regulated banking products."

"SoFiUSD is live on both Ethereum and Solana, two of the largest public blockchain networks by transaction volume. Members benefit from regular independent attestations conducted by a U.S.-licensed certified public accountant. The audits are intended to provide the same level of transparency members expect from a regulated banking institution. Full availability is expected by early June as users update to the latest version of the SoFi app."

"Within weeks, SoFi plans to introduce the ability for members to convert SoFiUSD into tokenized deposits, which would allow them to earn interest and access FDIC insurance on those funds. SoFi also plans to enable cross-border transfers using the stablecoin, allowing"

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