SoFi and Mastercard Partner to Support SoFiUSD Stablecoin Settlement on Global Payments Network

BlockBeats News, March 3rd. SoFi, the first nationally chartered bank in the United States to offer Bitcoin and cryptocurrency trading, announced plans to offer SoFiUSD as a settlement currency via Mastercard's global payment network. SoFi's technology platform Galileo is expected to be one of the first platforms to offer SoFiUSD settlement transactions to its card customers and issuing banks.

Mastercard and SoFi also stated that they will explore more interoperable applications involving stablecoins, fiat currencies, and tokenized assets, including programmable treasury applications and new payment and liquidity scenarios, subject to regulatory considerations.