SoFi to Offer SoFiUSD as Settlement Currency Across Mastercard Network

What Is SoFi and Mastercard Planning? SoFi Technologies is expanding its partnership with Mastercard to pitch SoFiUSD as a settlement currency across Mastercard’s global payments network. The initiative would allow issuers and acquirers to explore settling card-based transactions using the U.S. dollar stablecoin instead of traditional rails. SoFiUSD is issued by SoFi Bank, an OCC-regulated and FDIC-insured institution, and runs on Ethereum. Under the collaboration, SoFi Bank plans to settle its own credit ...