15 million customers will be able to buy, sell and convert the SoFiUSD stablecoin
The bank hopes that its users will be able to convert the stablecoin into tokenized deposits.
The American bank SoFi Bank launched today, May 27, SoFiUSD, its own stablecoin on the Ethereum and Solana networks. The digital asset maintains a direct equivalence backing with the fiat money of the banking institution and can be exchanged directly for US dollars from the entity.
This launch represents “the first phase of a roadmap” broader to integrate the utility of the stablecoin throughout the SoFi ecosystemwith plans to add new options to its product offering in the coming weeks, indicated the bank in a statement.
The initiative responds directly to a regulatory measure by the United States Commodity Futures Trading Commission (CFTC) issued on February 6. On that date, the CFTC’s Division of Market Participants included national banks as authorized issuers, allowing them to issue their own stablecoins and authorizing them to be accepted as margin collateral in futures markets.
SoFi Bank’s technological development was structured to advance the integration of digital financial services and build the capacity for platform members convert SoFiUSD into tokenized depositsan implementation scheduled for the third quarter of 2026, as reported by CriptoNoticias.
This modality — where money is represented as tokens equivalent to fiat money for immediate internal settlements without modifying its regulatory status — will allow (as the bank promises) users to earn interest and access FDIC insurance, under separate deposit account terms.
By relying on cryptocurrency networks that provide global mobility, the structure seeks to optimize the operational speed of the bank founded in 2011, allowing members to move the stablecoin 24 hours a day, 365 days a yearwith lower costs and delays than typical financial systems.
The corporate expansion strategy also plans to launch SoFiUSD on the Bullish cryptocurrency exchange for institutional clients.
The entry of regulated banking impacts a highly concentrated sector dominated by native cryptocurrency issuers like Tether’s USDT and Circle’s USDCfirms widely used in digital asset trading and decentralized finance. It remains to be seen whether these new banking instruments will be able to take market share from the already established giants, whose options do not depend on the infrastructure of traditional banking for their daily liquidity.
Despite this challenge, the adoption trend continues to add traditional actors. On March 12, the Wells Fargo bank filed a trademark application with the United States Patent and Trademark Office (USPTO) for the denomination WFUSD (what appears to be a new stablecoin), while Western Union announced on May 4, 2026 the launch of its stablecoin US Dollar Payment Token (USDPT) on the Solana network, issued by Anchorage Digital Bank.