SoFi becomes first US national bank to launch a stablecoin in a consumer app
SoFi launches SoFiUSD, the first stablecoin issued by a US national bank in a consumer app, now available to nearly 15 million members on Ethereum.
➤ SoFi Bank has launched SoFiUSD, the first stablecoin issued by a US national bank directly within a consumer banking app, available to its 14.7 million members. ➤ The SoFiUSD is a dollar-pegged token on the Ethereum blockchain, backed by liquid assets and subject to regular independent attestations, differentiating it from stablecoins issued by crypto-native companies. ➤ This move by SoFi, a regulated national bank, signifies a significant step in integrating stablecoins into mainstream retail finance, with potential implications for market competition and investor access.
