SoFi enables SoFiUSD stablecoin settlement on the Mastercard network, with an annual scale expected to exceed 25 billion USD

According to The Block, SoFi has begun using SoFiUSD to settle debit and credit card transactions on the Mastercard network and plans to migrate the entire card program to blockchain settlement, with an expected annual processing scale exceeding $25 billion. SoFi claims to be the first bank to launch stablecoin settlement on the Mastercard network.