SoFi Tech is rolling out a milestone for U.S. banking and crypto: its own dollar-pegged stablecoin, now available directly to consumers inside the SoFi app.
What’s new
- SoFiUSD, a stablecoin pegged 1:1 to the U.S. dollar, is being opened to the platform’s roughly 15 million users. The token was introduced late last year but had been limited to enterprise partners (card networks, retailers).
- This is the first stablecoin issued by a U.S. national bank that consumers can buy, sell, and convert to USD straight from a banking app, SoFi says. The bank frames it as a way to move money faster while remaining inside a regulated banking framework.
Why it matters
- Consumer access inside a regulated bank app bridges mainstream finance and crypto, offering an on-ramp for people who want digital-dollar utility without leaving a familiar, compliance-driven environment. As SoFi put it, “SoFiUSD is designed for members who already engage with crypto but want a safer way to do it.”
- CEO Anthony Noto highlighted the product’s convenience: “With SoFiUSD, we’re giving our members a single place to buy, hold, and pay with digital assets in the same app they already use to save, spend, borrow, and invest.”
Planned features and roadmap
- SoFi said members will soon be able to convert SoFiUSD into interest-bearing tokenized deposits.
- The bank also plans to enable 24/7 international money transfers via blockchain and to launch SoFiUSD on its centralized exchange partner shortly.
Market reaction and context
- The announcement helped lift SoFi shares as much as 3.5% Wednesday morning. Still, the stock has had a rough stretch this year — down about 39% year-to-date amid disappointing earnings.
- Wall Street remains cautiously optimistic: based on 19 analysts’ 12-month targets over the past three months, the average price target is $20.69 (range: $16.00–$30.00), which SoFi says represents roughly a 25% upside from the current price at the time of the report.
Bottom line
SoFi’s move positions a nationally chartered bank at the forefront of stablecoin consumer access in the U.S., combining faster, blockchain-based transfers with bank-level oversight. The product’s success will depend on adoption, the rollout of the interest-bearing and cross-border features, and how regulators and mainstream customers respond to banking-integrated crypto services.
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