SoFi Technologies, Inc. (NASDAQ:SOFI) today announced the launch of SoFiUSD, a fully reserved U.S. dollar stablecoin issued by SoFi Bank, N.A.

SoFiUSD will enable SoFi to serve as a stablecoin infrastructure provider for banks, fintechs, and enterprise platforms. They will be able to leverage SoFi’s bank-grade infrastructure to streamline their operations with faster and more efficient money movement.

SoFi is now the first national bank to offer open access to its stablecoin, SoFiUSD, and stablecoin infrastructure, bringing bank-grade oversight and reliability to companies looking to integrate stablecoin products and services. With SoFiUSD on a public, permissionless blockchain, partners can move funds around the clock with near-instant settlement at fractional-cent pricing. This enables them to manage liquidity with more confidence and deliver faster and more transparent services to their customers. SoFiUSD will also be available soon to all SoFi members.

“Blockchain is a technology super cycle that will fundamentally change finance, not just in payments, but across every area of money,” said Anthony Noto, CEO of SoFi. “With SoFiUSD, we’re using the infrastructure we’ve built over the last decade and applying it to real-world challenges in financial services. Companies today struggle with slow settlement, fragmented providers, and unverified reserve models. SoFi is helping address these gaps by combining our regulatory strength as a national bank with transparent, fully reserved on-chain technology to provide a safer and more efficient way for partners to move funds.“

SoFiUSD will be used in settlement not just of its crypto trading business, but can be used by card networks, retailers, or businesses that want 24/7 settlement safer, faster, and at a lower cost. SoFiUSD will also be a key element of SoFi Pay for international remittance and everyday consumer point-of-sale purchases in addition to providing an alternative form of payment for Galileo’s partners that drive billions of payments per year. And for companies operating in countries with volatile currencies, SoFi plans for SoFiUSD to be used as a secured dollar-denominated asset in a consumer debit or secured credit account.

Last month, SoFi became the first and only national bank to offer crypto trading to consumers. Members can buy, sell, and hold nearly 30 coins and have a safe, seamless way to engage with crypto directly within the SoFi ecosystem. Today’s launch of SoFiUSD builds on this momentum and accelerates SoFi’s strategy to build modern infrastructure that bridges traditional banking with the next generation of on-chain technology.

SoFiUSD is now available for internal settlement activity, with broader availability to SoFi members expected in the coming months.