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SoFi Bank Launches SoFiUSD, First U.S. Bank-Issued Stablecoin on Public Blockchain

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SoFi Bank has launched SoFiUSD, a stablecoin on a public blockchain, fully backed by U.S. dollars. The token runs on Ethereum and is redeemable 1:1 for cash. It enables fast, secure payments for fintechs, banks, and platforms. SoFi plans to expand SoFiUSD for global payments via SoFi Pay and Galileo. The move follows U.S. bank interest in stablecoins and regulatory guidance. What is the role of blockchain in this launch? It supports transparent, efficient transactions.
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