SoFi Technologies has expanded its partnership with Mastercard to introduce SoFiUSD as a settlement option across Mastercard’s global payments network, a move that places a bank-issued stablecoin directly into mainstream card infrastructure.
SoFiUSD is described by the company as the first stablecoin offered by a U.S. nationally chartered and insured deposit bank on a public, permissionless blockchain. The token is issued by SoFi Bank, N.A., an insured depository institution regulated by the Office of the Comptroller of the Currency. The stablecoin carries a 1:1 cash reserve backing, with immediate redemption capability.
Under the agreement, issuers and acquirers on Mastercard’s network will be able to explore settlement of card-based transactions using SoFiUSD. The companies said the effort targets faster money movement, with potential use cases that include cross-border remittances and business-to-business transfers.
Integration across Mastercard’s digital asset rails
SoFiUSD is also expected to be supported on the Mastercard Multi-Token Network, the card giant’s digital asset platform designed to connect traditional money with blockchain-based assets. The integration aims to allow interoperability among fiat currencies, stablecoins, and tokenized deposits within a unified framework.
In addition to enabling third-party issuers, SoFi Bank plans to settle its own Mastercard credit and debit transactions in SoFiUSD. Galileo Financial Technologies, SoFi’s technology platform, is expected to rank among the first to offer client banks and issuing partners the option to settle in the stablecoin.
Anthony Noto, CEO of SoFi, framed the move as part of a broader digital commerce strategy.
“SoFiUSD is at the heart of our strategy to make it faster, cheaper, and safer for people around the world to move money,” he said. “With SoFiUSD as a settlement currency across Mastercard’s network, card issuers and acquirers can more easily enable the millions of businesses they serve around the globe to instantly settle transactions, 24 hours a day, 7 days a week. This is only the beginning of our efforts to bring SoFi’s bank-grade infrastructure to digital commerce.”
Sherri Haymond, Global Head of Digital Commercialization at Mastercard, said the partnership broadens the role of regulated digital currencies within established payment rails.
“By working with SoFi to enable SoFiUSD across the Mastercard network, we're expanding how trusted digital currencies can be used at global scale,” she said. “Bringing stablecoin settlement on our network will connect regulated stablecoins with the reliability, security, and reach that consumers, businesses and financial institutions expect. And this effort expands choice and flexibility across the payments ecosystem in how people pay or get paid.”
Stablecoin growth shapes market backdrop
The announcement arrives during rapid expansion in the stablecoin sector. The McKinsey Global Payments Report shows roughly $30 billion in daily stablecoin transaction volume. Issuance in 2025 doubled compared with the prior year. Survey findings referenced in the announcement indicate that more than half of crypto holders held stablecoins within the past 12 months, while over 75% said they would open a stablecoin wallet if their bank or fintech app offered one.
Market data from DefiLlama place the total stablecoin market capitalization at approximately $310.7 billion at the time of reporting. Monthly transaction volumes reached $969.9 billion in August 2025, according to CoinLedger, with projections that approach $1 trillion per month by December 2026.
Competitive pressure from Visa and prior Mastercard moves
Mastercard has increased its activity in digital asset settlement in recent months. In November, the company partnered with Thunes to expand stablecoin wallet payouts through Mastercard Move, which enables near real-time transfers to regulated stablecoin wallets via Thunes’ Direct Global Network.
Rival Visa has also widened its stablecoin infrastructure. In September, Visa began testing cross-border settlement through a Visa Direct pilot that allowed select banks to pre-fund transfers with USDC and EURC. The company later extended support to four stablecoins across four blockchains, with conversion into more than 25 fiat currencies. In November, Visa introduced a pilot that allows businesses to send payouts directly to stablecoin wallets, as HodlFM reported. The program expanded in Europe when Quantoz Payments became a principal Visa member, which enabled the issuance of Visa-branded debit cards backed by regulated e-money tokens.
Against that competitive backdrop, SoFi’s approach stands out because of its bank-issued structure. SoFiUSD launched in December with OCC oversight and full cash reserves. Settlement in the token operates on a continuous basis, without traditional banking window constraints.
The companies said they will examine additional interoperability use cases, including programmable treasury applications, stablecoin-enabled card programs, and expanded cross-border disbursement scenarios. All initiatives remain subject to regulatory requirements and Mastercard network rules.
For SoFi, the partnership places its stablecoin inside one of the world’s largest card networks. For Mastercard, the agreement deepens its push to connect regulated digital assets with existing payment infrastructure. The next phase will test how issuers, merchants, and banks respond when stablecoin settlement becomes an operational option rather than a pilot concept.
Anastasiia G
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