SHIFT · US
SoFi Bank migrates full card settlement to blockchain using proprietary stablecoin
SoFi Bank and Mastercard have deployed SoFiUSD stablecoin for real-time settlement of SoFi's entire card portfolio across Mastercard's network. Payments settle on-chain rather than through traditional ACH/wire rails, eliminating multi-day clearing cycles.
WHY IT MATTERS
First US bank to route ALL card settlement through blockchain. If adoption scales, this model commoditizes traditional card processors' settlement monopoly and forces faster stablecoin integration into core banking infrastructure.
Source: Finextra · 2026-09-23