- Stablecoin settlement has been introduced throughout SoFi Bank’s card program by SoFi and Mastercard.
- Transactions within Mastercard’s international payments network will be settled using SoFiUSD.
- SoFi is switching to stablecoin settlement for its $25 billion card program. Mastercard supports a number of stablecoins for settlement, including Circle’s USDC and Ripple’s RLUSD.
SoFi Technologies and Mastercard announced on September 22 that stablecoin settlement is now live across SoFi Bank’s card program. The move makes SoFi the first bank to enable stablecoin settlement across Mastercard’s global payments network.
The launch comes as Mastercard expands its support for regulated stablecoins, including Ripple’s RLUSD and Circle’s USDC, for faster and more flexible settlement.
SoFi is the first national bank to go live with stablecoin settlement across Mastercard’s global payments network.
We’re migrating our full $25B card program to blockchain-based settlement.
Learn more: https://t.co/KP0mb9rO6b
— SoFi (@SoFi) September 22, 2026
SoFi Moves $25B Card Program To Stablecoin Settlement
According to SoFi’s official announcement, SoFi Bank is migrating its entire $25 billion card program to stablecoin settlement using SoFiUSD.
The integration allows card issuers, acquirers and merchants to use stablecoins for settlement and liquidity management without requiring merchants to change their existing payment systems.
SoFi said merchants do not need to hold stablecoins or build new blockchain infrastructure. Through its Big Business Banking platform, eligible merchants can receive settlement funds directly into a SoFi Bank account and access their cash around the clock.
SoFiUSD is designed to maintain a 1:1 value with the U.S. dollar and is backed primarily by cash reserves.
Mastercard Expands Support For RLUSD & Other Stablecoins
The SoFiUSD launch adds to Mastercard’s broader stablecoin strategy.
Mastercard has also added Ripple’s RLUSD to its global settlement network, expanding its support for 24/7 on-chain settlement using regulated stablecoins. The network also supports stablecoins such as Circle’s USDC, Paxos’ PYUSD, USDG and USDP, alongside SoFiUSD.
Ripple has separately joined Mastercard’s Crypto Partner Program, which focuses on expanding blockchain-based payment infrastructure. Binance, Circle, Gemini, PayPal and Paxos are among the other companies participating in the program.
Stablecoins are increasingly being explored as settlement assets by banks, fintech companies and traditional financial institutions.
Instead of relying only on traditional banking rails and operating schedules, stablecoins can support blockchain-based transfers around the clock. This could give financial institutions another option for managing liquidity and settling transactions across borders.
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