SoFi Technologies Partners with Mastercard to Enable Stablecoin Settlement

SoFi Technologies has made a significant move in the world of digital finance by partnering with Mastercard to enable the use of SoFiUSD, a fully reserved U.S. dollar stablecoin, for settlement on Mastercard's global payments network.

The partnership is expected to support faster cross-border remittances and business-to-business transfers, making it easier for financial institutions to settle transactions around the world.

SoFiUSD is a unique digital asset that occupies a space between traditional and cryptocurrency finance. It is fully cash-reserved, redeemable 1:1 for dollars, and issued by SoFi Bank, N.A., an OCC-regulated, nationally chartered and insured U.S. deposit bank.