SoFi makes SoFiUSD, its US dollar-pegged stablecoin on Ethereum and Solana, available for its 14.7M members to buy, sell, hold, and convert within the SoFi app
Quick Take — SoFi said its U.S. dollar-pegged stablecoin is now available for members to buy, sell, hold, and convert within the SoFi app.
First, a bit about it. SoFiUSD is issued by @SoFi Bank, a nationally chartered, OCC-regulated US bank. Reserves are held 1:1 in cash at the Federal Reserve. This enables the 1:1 peg. The stablecoin is now live on Ethereum and Solana to nearly 15 million members via the regular
Say “hi” to SoFiUSD (SoFiD) 👋 The first stablecoin issued by a U.S. national bank and redeemable 1:1 for cash or cash equivalents. Rolling out now, it's built for how money moves today: fast, flexible, 24/7. [image]