SoFi and Mastercard to enable SoFiUSD stablecoin settlement across global payments network

SoFi Technologies has extended its partnership with Mastercard to position SoFiUSD as a settlement currency across the global payments network.

SoFiUSD, the company's fully reserved U.S. dollar stablecoin, is issued by SoFi Bank, an OCC-regulated, FDIC-insured depository institution, and deployed on Ethereum.

Under the collaboration, the companies will explore how issuers and acquirers can settle card-based transactions using SoFiUSD, enabling faster settlement options for Mastercard customers. The effort aims to unlock more efficient transactions for use cases such as cross-border remittances and B2B transfers.

SoFi Bank plans to settle its own credit and debit transactions powered by the Mastercard network in SoFiUSD, according to a statement shared with The Block.

Expanding stablecoin settlement

SoFiUSD is also expected to be supported across Mastercard's Multi-Token Network, the company's digital asset platform designed to connect traditional rails with digital assets, per the statement. The integration aims to enhance interoperability across fiat currencies, stablecoins, and tokenized deposits, while providing greater settlement options throughout the payments ecosystem, the firms stated.

Galileo, SoFi’s technology platform, expects to be among the first to offer its payment card clients and their issuing banks the option to settle transactions in SoFiUSD. Mastercard and SoFi said they will also explore additional interoperability use cases across stablecoins, fiat, and tokenized assets, including programmable treasury applications and new payout and money movement scenarios, subject to regulatory considerations.

"SoFiUSD is at the heart of our strategy to make it faster, cheaper, and safer for people around the world to move money," SoFi CEO Anthony Noto said. "With SoFiUSD as a settlement currency across Mastercard's network, card issuers and acquirers can more easily enable the millions of businesses they serve around the globe to instantly settle transactions, 24 hours a day, 7 days a week."

Sherri Haymond, Global Head of Digital Commercialization at Mastercard, said the partnership expands the operational capabilities of regulated stablecoins in the real world. "By working with SoFi to enable SoFiUSD across the Mastercard network, we're expanding how trusted digital currencies can be used at global scale," she said, adding that stablecoin settlement will connect regulated digital currencies with the "reliability, security, and reach" expected by consumers, businesses, and financial institutions.

The announcement comes as stablecoins continue to gain traction in global financial services. Roughly $30 billion is transacted per day in stablecoins, and issuance in 2025 doubled from the prior year, per McKinsey.

Meanwhile, more than half of people with crypto holdings said they have held stablecoins in the past 12 months, and more than 75% say they would open a stablecoin wallet if their bank or fintech app offered one, according to a recent global study from BVNK conducted in partnership with Coinbase and Artemis.

Expand Chart

SoFi's expanding crypto offerings

SoFi launched SoFiUSD in December as what it described as the first stablecoin issued by a nationally chartered bank on a public blockchain. The firm said the token is fully backed 1:1 by cash reserves held for immediate redemption and is designed to support 24/7, near-instant settlement for banks, fintechs, and enterprise partners.

The move followed SoFi's broader expansion into crypto services, including the rollout of SoFi Crypto, which allows members to buy, sell, and hold digital assets directly within its banking app.