SoFi Technologies, Inc. and Mastercard today announced an enhanced partnership that will integrate SoFiUSD — SoFi’s fully reserved U.S. dollar stablecoin — as a settlement option across Mastercard’s global payments network.

SoFiUSD, issued by SoFi Bank, N.A., is the first stablecoin offered by a U.S. nationally chartered and insured deposit bank on a public, permissionless blockchain. It is backed 1:1 by cash reserves for immediate redemption and operates with near-instant, 24/7 settlement capabilities.

The collaboration will allow card issuers and acquirers to settle Mastercard-powered transactions using SoFiUSD, delivering faster, cheaper, and more efficient money movement. Key use cases include cross-border remittances, B2B transfers, and other high-volume payments that traditionally face multi-day settlement delays.

SoFi Bank, N.A. is expected to begin settling its own credit and debit card transactions on the Mastercard network in SoFiUSD. Additionally, SoFi’s technology platform Galileo — which powers financial solutions for more than 128 million accounts globally — will be among the first to offer clients and issuing banks the option to settle in the stablecoin.

SoFiUSD will also be supported across Mastercard’s Multi-Token Network (MTN), enabling interoperability between traditional fiat, stablecoins, and tokenized deposits. The partners plan to explore further innovations, including stablecoin-enabled card programs, programmable treasury applications, and expanded payout scenarios, subject to regulatory approval and network rules.

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https://www.sofi.com/crypto/sofiusd/