SoFiUSD Goes Live On Polygon As Bank-issued Stablecoin Expands Its Reach

• SoFiUSD is now available on Polygon.
• SoFi’s 17+ million members can use the stablecoin within the SoFi app.
• SoFi continues to expand into crypto, tokenised deposits and blockchain payments.

SoFiUSD Now Available On Polygon

SoFi’s bank-issued stablecoin SoFiUSD is now available to use on the Polygon network. This expands how the digital dollar can be used for payments and settlement within another blockchain. The stablecoin can now be purchased, sold, stored and swapped by SoFi’s 17+ million members on Polygon via the SoFi app. Polygon Labs said.

NEW: @SoFi launches SoFiUSD on Polygon Chain.

17M+ members can buy, sell, hold, and convert SoFiUSD on Polygon directly in the SoFi app, while businesses can build payment flows with the bank-issued stablecoin through Polygon Open Money Stack. https://t.co/c3GGIEzj1l

— Polygon (@0xPolygon) November 12, 2026

SoFiUSD is issued by SoFi Bank, N.A. which is a national bank regulated by the Office of the Comptroller of the Currency (OCC) in the US. Each SoFiUSD represents one US dollar and can be redeemed.

Simpler Way For Sofi Customers To Use Sofiusd

The integration aims to provide an easier way for customers to use SoFiUSD. By integrating with Polygon Open Money Stack, users can simply interact with wallets, fiat payments, swapping stablecoins and cross-chain settlement.

@CoinDesk Also expands access to SoFiUSD (SOFID), SoFi’s payment stablecoin, across Polygon users. 👀

— SoFi (@SoFi) November 12, 2026

Customers will not have to set up a new wallet or move tokens manually between blockchains. SoFiUSD joins some of the biggest stablecoins on Polygon including Circle’s USDC, Tether’s USDT and PayPal’s PYUSD.

“With a national bank providing compliance and a large consumer and business tech platform, SoFi is perfectly placed to enable stablecoins for mainstream users,” said Marc Boiron, CEO of Polygon Labs.

SoFi Expands Digital Assets Offerings

This latest development comes as SoFi continues to expand its crypto offering. The company said in its third quarter report that it ended September with 503,000 crypto products and generated $161.6 million in gross crypto transaction revenue. This was up 20% from last quarter.

SoFi has offered tokenised deposits, allowing customers to deposit their bank funds into SoFiUSD. In September, the company started using SoFiUSD to settle card payments on the Mastercard network.

The company has also agreed to integrate its SoFi Exchange Network with Kraken’s infrastructure. This shows that SoFi is trying to bridge the gap between traditional banking and blockchain payments and assets.

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