SoFi and Mastercard Enable SoFiUSD Stablecoin for Card Settlement

SoFi Technologies and Mastercard announced a partnership that adds SoFiUSD as a settlement currency across Mastercard’s global payments network, marking the first use of a stablecoin issued by a U.S. nationally chartered, FDIC‑insured bank for global network settlement on a public blockchain ^[2][1].

Under the arrangement, settlement can occur on Ethereum, which enables 24/7 settlement outside traditional correspondent‑banking windows and business‑day cutoffs; Mastercard has added SoFiUSD as an option for card issuers to settle transactions using the stablecoin if they choose to do so ^[2][3].

Coverage of the announcement notes the development as a milestone for payments infrastructure and has prompted discussion across crypto communities; reporting and social posts highlight the potential operational benefits while details on issuer adoption timelines remain limited in the sources ^[3][4].

The partnership makes SoFiUSD available as a settlement option on Mastercard’s network and demonstrates a practical use case for a bank‑issued stablecoin on a public blockchain, though the sources do not provide a detailed timeline for widespread adoption by issuers ^[2][1][3].