- SoFi has launched SoFiUSD on Solana as the first stablecoin issued by a chartered bank and available directly to retail consumers.
- SoFi’s Ben Reynolds says Solana is the right chain to use for payments because of its low costs, settlement speed, and throughput.
SoFi Technologies has launched its stablecoin, SoFiUSD, becoming the first regulated bank to offer a stablecoin directly to consumers, and it has selected Solana to launch the token on.
Announcing the new coin, SoFi said it’s built to cater to how money moves today: fast, flexible and around the clock.
Say “hi” to SoFiUSD (SoFiD) 👋
The first stablecoin issued by a U.S. national bank and redeemable 1:1 for cash or cash equivalents. Rolling out now, it’s built for how money moves today: fast, flexible, 24/7. pic.twitter.com/I0eHIxDR50
— SoFi (@SoFi) May 27, 2026
SoFiUSD maintains a 1:1 value against the US dollar, but it does not act as a bank deposit. This means that it is not guaranteed by the bank, nor is it considered legal tender. Besides Solana, the new stablecoin will also be available on Ethereum, with more chains to be added in the future.
SoFi is the latest to join Solana’s vast ecosystem. The network has been leading the industry on multiple fronts, including in the emerging agentic payments, where it has processed 65% of all transactions, as we reported.
SoFi will add a new level of credibility to the network. Maya Caddle, the partnerships lead at the Solana Foundation, captured the significance of SoFiUSD, stating:
“A nationally chartered US bank just launched a stablecoin on Solana. Not a crypto native. Not a neobank. A $50B OCC regulated institution with a Fed Master Account, which means reserves held directly at the Fed, not spread across commercial banks hoping they’ve matched their liabilities. 100% liquid. No duration risk. No counterparty in the critical path.”
SoFi Backs Solana for High Throughput, Low Costs
SoFi is one of the leading digital banks in the US. It ended 2025 with over $50 billion in assets and boasts 14.7 million users, who can now access a new stablecoin issued directly by the bank, not through a third-party fintech or a whitelabel solution from Coinbase.
SoFiUSD will be distinct from the bank’s tokenized deposits, which are limited to the SoFi ecosystem, earn interest and are insured by the FDIC. The stablecoin can move anywhere within the Ethereum and Solana ecosystems, 24/7.
On why the company chose Stellar, its head of big business banking, Ben Reynolds, said it considered the cost, the settlement speed, and the throughput.
Ben Reynolds, Head of Big Business Banking on why @SoFi picked Solana.
“Solana is the right chain to use for payments because of the cost, the settlement speed and ultimately the throughput”pic.twitter.com/odN2juECij
— Solana (@solana) May 27, 2026
SoFiUSD is joining a Solana stablecoin ecosystem that has been growing steadily. Mayan Finance, a cross-chain swap and bridge protocol built for Solana, announced Wednesday that it has facilitated $2.5 billion in stablecoin volume moving to Solana in 600,000+ transactions.
$2.5B+ in stablecoins have moved to @Solana through Mayan.
That's over 600,000 individual transactions.
Internet capital is moving to the home of internet capital markets. pic.twitter.com/HtsJSIP1jx
— Mayan (@mayan) May 27, 2026
Beyond stablecoins, the network’s tokenization sector is also surging. On Wednesday, its largest decentralized exchange, Orca, announced new infrastructure to tokenize real-world assets. This includes permissioned pools that only allow approved investors to trade in tokenized assets. These target regulated markets, especially in the US, where securities laws are still prohibitive.
SOL trades at $80.8 at press time, dipping 3.3% as the entire crypto market recorded price declines following renewed fighting in Iran.
