SoFi Bank Launches $33 Billion Stablecoin on Ethereum

TheMarketPeriodical

Release Time:12/19/2025 12:02:40

ETH

$2,929.75-0.79%

SoFi Bank has launched SoFiUSD, a $33 billion stablecoin on the blockchain, pegged 1:1 to the US dollar. The Ethereum-based stablecoin is the first public issue from a US national bank. SoFi plans to use it for internal settlements and expand to SoFiPay for global payments and daily purchases. The stablecoin is yield-bearing, with returns from reserves to be shared with partners and holders. SoFi’s entry into the stablecoin market comes as Tether and Circle control over 80% of the supply. What is SoFiUSD? It’s a blockchain-based dollar-pegged token designed for commercial and consumer use.

Source:Show original

Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.