SoFi Launches First Bank-Issued, Business-Focused Payment Stablecoin: SoFiUSD

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**CoinDesk: SoFi Launches U.S. Dollar Stablecoin SoFiUSD** December 18 — U.S.-listed fintech firm SoFi Technologies (SOFI) has launched the U.S. dollar stablecoin SoFiUSD, targeting faster, lower-cost fund transfers for banks, fintechs and enterprise platforms, per CoinDesk. Issued by SoFi Bank—an FDIC-insured U.S. national bank—the stablecoin marks the first time a U.S. national bank has opened stablecoin infrastructure to external parties. Initially restricted to internal use, SoFiUSD is set to roll out to a broader base of SoFi users in the coming months. Unlike stablecoins from native crypto companies, SoFiUSD is fully backed 1:1 by cash held at the Federal Reserve, enabling instant redemptions with no credit or liquidity risk. Deployed on a public blockchain, the stablecoin facilitates near-real-time, 24/7 fund movement at low cost.

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