SoFiUSD Becomes Settlement Option Across Mastercard Network

• SoFiUSD now lets Mastercard users settle transactions instantly, anytime, boosting global payments and cross-border transfers.

• SoFiUSD is fully cash-backed, giving businesses and merchants secure, fast, and liquid settlement options on Mastercard’s network.

• Mastercard and SoFi plan to expand SoFiUSD for treasury apps, payouts, and cross-border payments, growing stablecoin adoption.

SoFi Technologies, Inc. announced a partnership with Mastercard to enable SoFiUSD as a settlement option across Mastercard’s global payments network. This move positions SoFiUSD, the fully reserved U.S. dollar stablecoin, as the first stablecoin issued by a U.S. nationally chartered and insured bank on a public, permissionless blockchain.

The integration enables card-based transactions to settle using SoFiUSD, which could facilitate faster remittance and B2B transactions. Anthony Noto, CEO at SoFi, said: “With SoFiUSD as a settlement currency on Mastercard’s network, card issuers and acquirers have the ability to easily facilitate the millions of businesses they serve around the globe to instantly settle transactions 24 hours a day, 7 days a week.”

Besides enabling instant settlement, the partnership also extends SoFiUSD support across the Mastercard Multi-Token Network (MTN). MTN is Mastercard’s digital asset platform that connects traditional fiat money with digital currencies. Consequently, this integration enhances interoperability across stablecoins, fiat currencies, and tokenized deposits.

Moreover, SoFi Bank, N.A. plans to settle credit and debit transactions on the Mastercard network using SoFiUSD. Additionally, Galileo, SoFi’s technology platform, is expected to offer clients and issuing banks the choice to settle transactions directly in SoFiUSD, opening new avenues for payment flexibility.

Expanding Digital Payment Capabilities

The Mastercard and SoFi partnership is seeking to investigate more use cases for SoFiUSD, such as programmable treasury use cases, additional money movement, and payouts.

According to Sherri Haymond, Mastercard’s global head of digital commercialization, “Bringing stablecoin settlement on our network will connect regulated stablecoins with the reliability, security, and reach that consumers, businesses, and financial institutions expect.”

The stablecoin market is experiencing a surge in transactions, with daily transactions reaching around $30 billion. Stablecoin issuance has doubled in 2025 compared to the previous year.

Additionally, SoFiUSD is fully reserved 1:1 by cash for immediate redemption. This ensures liquidity for merchants and issuers in Mastercard’s network while maintaining regulatory compliance. Over time, SoFi and Mastercard will likely explore stablecoin-enabled card programs and cross-border remittances.