SAN FRANCISCO—SoFi Technologies said it has expanded access to its dollar-backed stablecoin, SoFiUSD, allowing its nearly 15 million banking customers to buy, sell and hold the digital asset directly through the SoFi app as the company deepens its push into blockchain-based financial services.
The company said SoFiUSD is redeemable 1:1 for U.S. dollars and operates on the Ethereum and Solana blockchains. SoFi described the move as the first time a stablecoin issued by a U.S. national bank has been made available directly through a banking platform, bringing regulated digital-asset services into its mainstream consumer banking ecosystem.
According to reporting CoinDesk, SoFi plans to expand the offering in coming months by enabling customers to convert SoFiUSD into tokenized bank deposits and use blockchain-based payment capabilities, including around-the-clock money movement. The stablecoin, which launched in late 2025, had previously been used primarily for internal settlement and enterprise applications.
The rollout comes as banks, fintechs and payment providers accelerate efforts to develop regulated stablecoin products following enactment of the GENIUS Act. SoFi has also positioned itself as a stablecoin infrastructure provider for other financial institutions, allowing banks and fintechs to build white-label stablecoin products using its platform.