SoFi Launches a Fully Reserved Stablecoin and Goes Straight for Infra
Hey Digital Banking Fanatic!
SoFi just launched SoFiUSD, a fully reserved dollar-backed stablecoin issued by SoFi Bank.
SoFi is positioning itself as a stablecoin backbone for banks, FinTechs, and enterprise platforms. Faster settlement. Always-on rails. Bank-grade oversight.
This makes SoFi the first national bank in the US to offer open access to its own stablecoin and stablecoin infrastructure.
Public blockchain. Near-instant settlement. Fractional-cent costs...
Anthony Noto, CEO of SoFi, says the goal is simple. Use SoFi’s regulated banking stack to fix slow settlement, fragmented providers, and opaque reserve models.
This puts SoFi right in the middle of where payments, banking, and on-chain finance are starting to converge.
If you’re watching how Digital Banking players are building the next layer of financial infrastructure, keep going. 👇
Cheers,
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NEWS
🇺🇸 SoFi launches fully reserved stablecoin to power financial infrastructure. SoFiUSD will enable SoFi to serve as a stablecoin infrastructure provider for banks, FinTechs, and enterprise platforms. They will be able to leverage SoFi’s bank-grade infrastructure to streamline their operations with faster and more efficient money movement.
🇪🇸 Revolut will open new offices in Madrid and Barcelona and plans to hire 800 people by 2028. The London-based company has chosen two iconic avenues in both cities, Diagonal and Paseo de la Castellana, to locate its centers. Both will display the Revolut logo on their facades, something for which it had to negotiate with the Barcelona City Council.
🇵🇭 Maya offers travel protection starting at P99 with a new in-app feature. To help travelers stay prepared, all-in-one digital bank Maya has teamed up with M Pioneer Insurance to bring SafeTrip directly into the Maya app. The new in-app offering gives Filipinos instant access to travel protection that’s flexible, affordable, and designed for real-life travel scenarios.
🇺🇸 Kontigo raised a $20M seed round. The platform aims to serve both individuals and businesses worldwide without traditional banking licenses, leveraging always-on, low-cost, permissionless blockchain systems to deliver global finance with minimal operational overhead.
🇦🇪 Digital Bank Zand secures dual international security certifications. Zand said the certifications apply to its digital and Web3 service offerings, including digital asset custody, smart contract management, and infrastructure designed to bridge traditional financial services with decentralised finance systems.
🇹🇿 Coop Bank unveils CooPesa to mark a new era of digital banking. The launch of the CooPesa represents Coop Bank´s commitment to delivering secure, convenient, and accessible banking services tailored to the evolving needs of its members. The platform enables customers to access a wide range of banking services anytime, anywhere, directly from their mobile devices.
🇧🇷 Bitpanda Technology Solutions partners with Banco BS2. The partnership framework enables the exploration of additional infrastructure components, such as custody technology and tokenization capabilities, subject to regulatory requirements and Banco BS2’s customer-facing oversight.
🇨🇱 Mercado Pago will offer bank transfers at checkout following its alliance with Fintoc. This allows users to pay directly from their bank accounts without leaving the checkout process, expanding the available payment options. Continue reading
🇺🇸 Blackstone holds early talks with Revolut on wealth partnership. The discussions are at an early stage, and there’s no certainty that an agreement will ultimately be reached. Keep reading
🇮🇹 Nexi rejects TPG’s €1 billion bid for digital banking unit. Nexi’s board decided it won’t proceed with the sale after “careful consideration” of the offer, according to a statement. Continue reading
🇺🇸 PayPal CEO Alex Chriss says stablecoins will be key as his company navigates the classic innovator’s dilemma. “If you were to build the payments ecosystem from scratch today, it wouldn’t look like the way it does today,” said Chris. The FinTech is looking to get a lift from next-generation payment products like stablecoins and is working to incorporate them across its operations and products.
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