SoFi Launches Proprietary Stablecoin with Global Mastercard Settlement
May 22, 2026 (18 hr ago)
Positive
SoFi has officially launched its own stablecoin on a public blockchain, securing a partnership with Mastercard to facilitate global settlement for the new digital asset.
Stablecoin and Blockchain Strategy
- SoFi has minted a proprietary stablecoin on a public blockchain to modernize its payment infrastructure and expand its digital asset capabilities.1
- The company signed a partnership with Mastercard to enable global settlement capabilities for this stablecoin, enhancing its cross-border transaction efficiency and payment processing speed.1
Operational Performance and Growth
- SoFi reported record quarterly loan originations of $12.2 billion, representing a 68% year-over-year increase.1, 3
- Total membership grew 35% year-over-year to 14.7 million, while total products utilized by customers climbed 39% to 22.2 million.3
- The company achieved quarterly revenue of $1.08 billion, surpassing consensus expectations.3, 4
Strategic Acquisitions and Infrastructure
- SoFi acquired Peach, a cloud-native lending technology platform, to bolster its backend servicing infrastructure for fintech and institutional clients.5
- This integration aims to support SoFi’s "digital financial everything app" strategy by unifying processing, banking cores, ledgering, and risk management capabilities under one roof.5
New Business Initiatives
- The company is launching "Big Business Banking" in April 2026, specifically targeting crypto-focused firms that require services across both traditional fiat and digital assets.1, 5
- SoFi secured $3.6 billion in new Loan Platform commitments from three partners, including a top-five private asset manager.1
Market Expansion
- SoFi will serve as a platform for the direct offering of SpaceX Class A shares, a rare move for a mega IPO typically reserved for institutional investors.2
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Can SoFi Hit $50 by 2030?
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