Key Highlights

  • SoFi Technologies joins forces with Mastercard to introduce card transaction settlement through SoFiUSD stablecoin on Mastercard’s worldwide payments infrastructure.
  • SoFiUSD represents the inaugural stablecoin launched by a federally chartered and insured US depository bank on a public, permissionless blockchain.
  • SoFi Bank intends to process its Mastercard credit and debit transactions via SoFiUSD, while Galileo extends this capability to partner banks.
  • Each SoFiUSD token maintains complete backing by cash reserves and enables round-the-clock settlement capabilities beyond traditional banking hours.
  • Future collaboration areas include international remittances, business-to-business payments, programmable corporate treasury solutions, and stablecoin-powered card offerings.

On March 3, SoFi Technologies and Mastercard revealed their collaboration to integrate SoFiUSD as a settlement mechanism throughout Mastercard’s global payments infrastructure.

Launched last December, SoFiUSD originates from SoFi Bank N.A., which operates under OCC regulation as an insured depository institution. The stablecoin maintains complete backing through cash reserves at a 1:1 ratio, ensuring every digital token corresponds to an actual dollar in reserve.

According to SoFi, this positions SoFiUSD as the inaugural stablecoin launched by a federally chartered and insured US depository institution on a public, permissionless blockchain. This distinction carries significant weight within a marketplace filled with alternatives operating under lighter regulatory frameworks.


SOFI Stock Card
SoFi Technologies, Inc., SOFI

Through this agreement, SoFi Bank will process its Mastercard credit and debit transactions using SoFiUSD settlement. This arrangement provides the institution with an immediate, operational application for the stablecoin.

Galileo, the payments technology platform owned by SoFi, will extend SoFiUSD settlement options to its client banks and card issuers throughout Mastercard’s infrastructure. Given Galileo’s extensive fintech and financial institution partnerships, this could accelerate adoption substantially.

A key advantage involves operational hours. SoFiUSD facilitates continuous settlement around the clock throughout the week, contrasting with conventional banking systems that experience downtime during evenings and weekends.

Mastercard’s Growing Stablecoin Strategy

Mastercard’s Multi-Token Network (MTN) will incorporate SoFiUSD alongside traditional fiat currencies, tokenized deposits, and additional digital assets. The MTN serves as Mastercard’s infrastructure for connecting conventional monetary systems with digital asset ecosystems.

This collaboration represents another step in Mastercard’s stablecoin journey. Last November, the payment giant teamed up with Thunes to broaden stablecoin wallet payout capabilities via Mastercard Move, facilitating near-instantaneous transfers to compliant stablecoin wallets.

Looking ahead, SoFi and Mastercard plan to investigate international remittance solutions, business-to-business payment transfers, programmable corporate treasury tools, and stablecoin-integrated card programs — pending regulatory clearance and adherence to Mastercard network guidelines.

SoFi CEO Anthony Noto explained the partnership aims to deliver money movement that’s “faster, cheaper, and safer,” positioning SoFiUSD as a settlement currency for card issuers and merchant acquirers worldwide.

Visa Accelerates Stablecoin Integration

Mastercard’s primary competitor has been actively advancing in this space. Visa initiated stablecoin-based cross-border settlement testing last September through a pilot program utilizing Circle’s USDC and EURC.

Visa subsequently broadened its support to encompass four stablecoins operating across four blockchain networks, with conversion capabilities spanning more than 25 fiat currencies. In November, Visa unveiled direct stablecoin payout functionality to wallet recipients, targeting freelancers and marketplace platforms.

More recently, Quantoz Payments based in the Netherlands achieved principal Visa member status, facilitating Visa-branded debit cards supported by regulated e-money tokens throughout Europe.

The total stablecoin market reached approximately $311 billion at the time of publication, based on DefiLlama data. Transaction volumes achieved a peak of $969.9 billion during August 2025, with projections indicating monthly volumes could reach $1 trillion by December 2026.

Stablecoin issuance during 2025 represented a twofold increase compared to the previous year, with daily transaction volumes across stablecoin networks now approaching $30 billion.