SoFi launches stablecoin settlement on Mastercard network for its debit and credit card program, targeting over $25 billion in annualized volume.
DeFi & Yields ·
SoFi Bank has begun stablecoin settlement on Mastercard's network for its debit and credit card program, using SoFiUSD as the settlement asset. The program is expected to exceed $25 billion in annualized volume, marking a shift toward blockchain-based settlement infrastructure for the company's card operations.
The move represents an integration of stablecoin rails into a major payment card ecosystem. By routing settlement through a blockchain-native stablecoin rather than traditional rails, SoFi aims to potentially reduce friction and settlement times in its card program while maintaining compatibility with an existing global payments network.
The extent of actual volume capture, consumer adoption of the stablecoin settlement mechanism, and regulatory treatment of SoFiUSD within this framework remain to be demonstrated at scale.