SoFi unveils the first bank-issued stablecoin for enterprise payments

• SoFi has launched SoFiUSD, a U.S. dollar stablecoin backed 1:1 by cash held at the Federal Reserve and issued by its FDIC-insured national bank.
• The coin runs on a public blockchain, offering instant, low-cost settlement and opening the door to white-labeled stablecoin services for fintechs, banks and enterprises.
• Initially limited to internal use, SoFiUSD is expected to roll out to SoFi members in the coming months as part of a broader payments strategy.

SoFi (SOFI) has launched a U.S. dollar stablecoin, SoFiUSD, in a bid to bring faster, cheaper money movement to banks, fintechs and enterprise platforms.

The coin is issued by SoFi Bank, a nationally chartered and FDIC-insured institution, making it the first U.S. national bank to offer open access to its stablecoin infrastructure.

Last month, JPMorgan launched its deposit token, JPM Coin, on Base.

SoFiUSD will be available for internal use for now with a broader rollout to SoFi members expected in the coming months.

Unlike stablecoins issued by crypto-native firms, SoFiUSD is fully backed 1:1 by cash held at the Federal Reserve, meaning users can redeem it immediately without facing credit or liquidity risk. The coin is live on a public blockchain, which allows for 24/7 movement of funds at near-instant speeds and low cost.

The infrastructure also opens the door for SoFi’s partners, including banks, card networks or software firms, to issue their own white-labeled stablecoins or plug SoFiUSD into their existing payment flows. This service leans on SoFi’s banking license and reserve model, which the company says gives it an edge over less regulated stablecoin issuers.

“We’re using the infrastructure we’ve built over the last decade and applying it to real-world challenges in financial services,” said SoFi CEO Anthony Noto in a statement. “Companies today struggle with slow settlement, fragmented providers, and unverified reserve models. SoFi is helping address these gaps.”

• As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
• GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
• Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.

• DAWN raised $13 million in a Series B led by Polychain Capital.
• The protocol enables individuals and organizations to own and monetize wireless broadband infrastructure.
• New funding will support U.S. growth and international rollouts.

Disclosure & Polices: CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of Bullish (NYSE:BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services. Bullish owns and invests in digital asset businesses and digital assets and CoinDesk employees, including journalists, may receive Bullish equity-based compensation.