SoFiUSD (SOFID) is a U.S. dollar stablecoin issued by SoFi Bank, N.A., a subsidiary of fintech company SoFi Technologies. Announced in December 2025, it was presented as the first stablecoin issued by a U.S. national bank on a public, permissionless blockchain.
In May 2026 it became available to consumers inside the SoFi app. Having a regulated bank as the direct issuer sets it apart from a stablecoin market largely led by private issuers.
Each SoFiUSD token is fully backed by one U.S. dollar in cash, with reserves held in the bank's federal account. This design aims to enable immediate redemption while limiting liquidity and credit risk.
The token is reported to run on public blockchains such as Ethereum and Solana. Its main purpose is payments and settlement, combining fast on-chain transfers with bank-grade reserve management.
Data provided by CoinGecko
As a stablecoin, its supply is not fixed: tokens are minted when dollars are deposited and burned when they are redeemed. Minting began in the first quarter of 2026, and SoFi has been working with Mastercard to support settlement across its payments network.
SoFi is opening its stablecoin infrastructure so banks, fintechs, and enterprises can integrate SoFiUSD into settlement flows or issue white-label stablecoins using SoFi's regulatory, operational, and reserve framework. This marks an expansion into business-to-business infrastructure.
Issuance by a regulated national bank with full cash reserves is widely seen as a strength for transparency and trust. Integration into an app with a large existing user base also makes it relatively accessible.
However, it is a centralized asset that depends heavily on its issuer, and it remains exposed to regulatory changes as well as smart contract and blockchain operational risks. This overview is for information only and is not investment advice; readers should consult official sources directly.
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