SoFi Technologies (SOFI) Partners with Mastercard for SoFiUSD Stablecoin Settlement

Key Takeaways SoFi Technologies has joined forces with Mastercard to introduce settlement capabilities for card payments using SoFiUSD stablecoin throughout Mastercard’s worldwide network. The SoFiUSD stablecoin represents the inaugural stablecoin from a federally chartered and FDIC-insured US bank operating on an open, public blockchain. Both SoFi Bank and Galileo’s partner institutions will have access to settle Mastercard transactions using SoFiUSD. Each SoFiUSD token maintains full 1:1 backing through cash reserves and facilitates round-the-clock settlement capabilities unavailable through conventional banking infrastructure. Future collaboration areas include international remittances, business-to-business payments, programmable corporate treasury solutions, and stablecoin-powered card initiatives. On March 3, SoFi Technologies and Mastercard unveiled their collaboration to integrate SoFiUSD as a payment settlement mechanism within Mastercard’s extensive global infrastructure. LATEST: SoFi and Mastercard are partnering to let banks settle card transactions using the SoFiUSD stablecoin, with 24/7 settlement across Mastercard's global network. pic.twitter.com/NfXnCuz6Ef — CoinMarketCap (@CoinMarketCap) March 4, 2026 Introduced in December, SoFiUSD comes from SoFi Bank N.A., which operates under OCC oversight as an insured financial institution. Complete 1:1 cash reserve backing ensures that each digital token corresponds directly to an actual US dollar. According to SoFi, this positions SoFiUSD as the inaugural stablecoin launched by a federally chartered and deposit-insured US banking institution on an open, permissionless blockchain network. This represents a significant differentiator in an ecosystem filled with competitors operating under lighter regulatory frameworks. SoFi Technologies, Inc., SOFI The partnership allows SoFi Bank to settle its Mastercard-branded credit and debit card transactions using SoFiUSD. This provides immediate, practical applicati...