ethereum ·
SoFi Brings Its Bank-Issued Stablecoin to Polygon’s Payments Stack
SoFiUSD, the first stablecoin from a U.S. national bank, is now live on Polygon Open Money Stack alongside Ethereum and Solana.
2 outlets · Decrypt · unchainedcrypto.com
SoFiUSD, the dollar stablecoin issued by SoFi Bank, is now live on Polygon, making the network the token's third blockchain after Ethereum and Solana, Polygon Labs said in a press release on Thursday. SoFi members can buy, sell, hold and convert SoFiUSD on Polygon inside the SoFi app, with no separate crypto wallet and no manual bridging of tokens between networks, according to the release.
SoFi reported 17.1 million members at the end of September. Get Unchained's crypto news in your inbox with the free Unchained Daily newsletter.
A Bank-Issued Dollar SoFi describes SoFiUSD as "the first stablecoin issued by a U.S. national bank." Its issuer, SoFi Bank, N.A., is overseen by the Office of the Comptroller of the Currency (OCC), the federal regulator of national banks.
SoFi rolled out the token in December 2025 as settlement plumbing for banks, fintechs and enterprise partners, then opened it to members in the app in May on Ethereum and Solana, saying more networks would follow. The token can be redeemed one-for-one for U.S. dollars.
