DEPLOYMENT · US
SoFi Bank migrates $25 billion card program to stablecoin settlement
SoFi Bank, in partnership with Mastercard, shifted its entire $25 billion debit and credit card program to stablecoin-based transaction settlement. First major US bank production deployment of blockchain-native payment rails at scale.
WHY IT MATTERS
Demonstrates viability of non-traditional settlement; other banks watching for cost savings and operational friction; if successful, reshapes card network economics and reduces dependence on ACH/wire infrastructure.
Source: PYMNTS · 2026-09-22