SoFi Goes Stablecoin-Native on Mastercard, Because Nothing Says "Money 2.0" Like $25B in Plastic 🚀

SoFi Technologies and Mastercard confirmed on September 22 that stablecoin settlement is now live across SoFi Bank's debit and credit card program, making SoFi the first bank to run stablecoin settlement on Mastercard's global payments network. The deployment uses SoFi's own SoFiUSD stablecoin and covers SoFi Bank's full $25 billion card program. Mastercard said the launch gives card issuers, acquirers, and merchants an additional option for settlement and liquidity management using stablecoins, and that bank-issued stablecoins can operate alongside existing payment infrastructure. The rollout follows Mastercard's earlier expansion of stablecoin settlement support to include Ripple's RLUSD, Circle's USDC, and other stablecoins. SoFi stated that merchants do not need to hold stablecoins, build new infrastructure, or change how they operate, and that settlement flows through its existing "Big Business" product as it migrates card transactions to SoFiUSD. Mastercard and SoFi did not disclose a timeline for additional banks to join the settlement rail or further details on integration.