SoFi Launches SoFiUSD: First U.S. Bank-Issued Stablecoin Now Available to 15M App Users

SoFi Tech is rolling out a milestone for U.S. banking and crypto: its own dollar-pegged stablecoin, now available directly to consumers inside the SoFi app. What’s new - SoFiUSD, a stablecoin pegged 1:1 to the U.S. dollar, is being opened to the platform’s roughly 15 million users. The token was introduced late last year but had been limited to enterprise partners (card networks, retailers). - This is the first stablecoin issued by a U.S. national bank that consumers can buy, sell, and convert to USD straight from a banking app, SoFi says. The bank frames it as a way to move money faster while remaining inside a regulated banking framework. Why it matters - Consumer access inside a regulated bank app bridges mainstream finance and crypto, offering an on-ramp for people who want digital-dollar utility without leaving a familiar, compliance-driven environment. As SoFi put it, “SoFiUSD is designed for members who already engage with crypto but want a safer way to do it.” - CEO Anthony Noto highlighted the product’s convenience: “With SoFiUSD, we’re giving our members a single place to buy, hold, and pay with digital assets in the same app they already use to save, spend, borrow, and invest.” Planned features and roadmap - SoFi said members will soon be able to convert SoFiUSD into interest-bearing tokenized deposits. - The bank also plans to enable 24/7 international money transfers via blockchain and to launch SoFiUSD on its centralized exchange partner shortly. Market reaction and context - The announcement helped lift SoFi shares as much as 3.5% Wednesday morning. Still, the stock has had a rough stretch this year — down about 39% year-to-date amid disappointing earnings. - Wall Street remains cautiously optimistic: based on 19 analysts’ 12-month targets over the past three months, the average price target is $20.69 (range: $16.00–$30.00), which SoFi says represents roughly a 25% upside from the current price at the time of the report. Bottom line SoFi’s move positions a nationally chartered bank at the forefront of stablecoin consumer access in the U.S., combining faster, blockchain-based transfers with bank-level oversight. The product’s success will depend on adoption, the rollout of the interest-bearing and cross-border features, and how regulators and mainstream customers respond to banking-integrated crypto services.