SoFi Technologies has launched its stablecoin SoFiUSD directly to its retail banking app, making it available to nearly 15 million members. SoFiUSD is the first national bank-issued stablecoin that customers can buy, sell, and hold inside a banking app — not just for internal settlement or institutional use. The dollar-backed token is live on Ethereum and Solana.
From Institutional Tool to Everyday App
SoFi became the first US national bank to issue a stablecoin on a public blockchain back in December 2023. But that version was limited to internal settlement and institutional clients. This week's rollout changes the game: any SoFi member with the banking app can now hold SoFiUSD alongside their regular dollars. The company says the move is about giving users 24/7 global mobility via blockchain, without leaving the app.
What Members Can Do Now
Within the app, members can buy, sell, and hold SoFiUSD. SoFi also plans to let them convert SoFiUSD to tokenized deposits — a step that blurs the line between traditional bank money and on-chain value. In the coming weeks, the stablecoin will be listed on the Bullish exchange, giving holders another venue to trade it. The company frames this as the start of a broader push toward blockchain-based banking services.
Ethereum, Solana, and What's Next
SoFiUSD currently runs on Ethereum and Solana. SoFi hasn't said which blockchains it will add next, but the company confirmed it intends to expand beyond those two. The choice of chains matters because each brings different speed, cost, and user base. For now, nearly 15 million SoFi members can access the stablecoin directly, no extra wallet or app needed. The next concrete step is the Bullish listing and the tokenized deposit feature — both expected within weeks.
