SoFi and Mastercard announced a partnership to enable SoFiUSD to be used as a settlement option across Mastercard’s global payments network, creating a stablecoin pathway for card-transaction settlement. SoFiUSD, a U.S. dollar stablecoin issued by SoFi Bank, is fully reserved and redeemable one-to-one for cash on a public, permissionless blockchain. The arrangement envisions issuers and acquirers settling card-based transactions on Mastercard’s rails using SoFiUSD to speed up settlement times. Galileo, SoFi’s payments platform, would be among the first providers to offer its card-issuing clients the option to settle transactions using SoFiUSD.
Mastercard also expects SoFiUSD to be supported on the Mastercard Multi-Token Network to connect traditional money with digital assets. The deal aims to enable interoperability across fiat currencies, stablecoins, and tokenised deposits, with additional use cases in programmable treasury applications and other money-movement scenarios.
The companies noted that stablecoins are gaining traction, citing roughly US$30 billion transacted daily and 2025 issuance doubling from the previous year, and surveys showing many crypto holders favor stablecoins and would consider opening a stablecoin wallet if offered by a bank or fintech app. For Mastercard, the collaboration expands stablecoin usage on its rails; for SoFi, it marks a major distribution of a stablecoin issued from within its regulated banking entity. Future opportunities, including stablecoin-enabled card programmes and cross-border remittances, will be subject to regulatory considerations and Mastercard network rules. Anthony Noto, SoFi’s CEO, said SoFiUSD is central to moving money faster, while Mastercard’s Sherri Haymond highlighted the benefits of interoperability and reliability.
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