SoFiUSD(SOFID)

Overview

SoFiUSD (SOFID) is a fully reserved U.S. dollar stablecoin issued by SoFi Bank, N.A. It has been described as the first stablecoin launched by a U.S. national bank on a public, permissionless blockchain.

The token is backed 1:1 by cash, with reserves held in the bank's federal account, a structure intended to enable immediate redemption while limiting liquidity and credit risk. SoFi also opens its stablecoin infrastructure to third parties, allowing banks, fintechs, and enterprises to integrate SoFiUSD into settlement flows or issue white-label stablecoins using SoFi's regulatory, operational, and reserve framework.