U.S. Digital Bank SoFi Bank Implements Stablecoins! 14.7 million users can buy SoFiUSD just by opening the app

SoFi Bank integrates the stablecoin SoFiUSD into the app, allowing 14.7 million members to buy, sell, and pay, becoming the first national bank to bring a stablecoin to retail.

U.S. digital bank SoFi announced on May 27 that its stablecoin SoFiUSD has officially been integrated into the SoFi App, enabling 14.7 million members to buy, hold, and pay with this U.S. dollar stablecoin issued by SoFi Bank within the same app. This is the first case after the passage of the GENIUS Act where a national bank pushes its stablecoin into retail scenarios. According to Investing.com, full app support is expected to be completed by early June.

SoFiUSD enters the app, initially supporting Ethereum and Solana

SoFiUSD first launched on Ethereum in December 2025, positioned as an interbank settlement tool, and joined the Solana network in May 2026. This app integration marks SoFi’s first time offering its stablecoin product to general retail members.

CEO Anthony Noto stated in the announcement, “Users don’t need to choose between blockchain technology and regulated banking products,” and mentioned that members can complete deposits, investments, lending, crypto asset trading, and payments all within the same app, with buying, holding, and paying all done without leaving SoFi.

Issued by OCC-regulated SoFi Bank, regularly audited by independent accountants

SoFiUSD is a 1:1 USD-pegged stablecoin, backed by cash and high-liquidity assets such as short-term U.S. Treasuries, held by SoFi Bank under the supervision of the U.S. Office of the Comptroller of the Currency (OCC), and periodically verified and disclosed through independent audits.

This is the first case where a nationwide bank directly issues a stablecoin that is open to retail users after the GENIUS Act established that national banks or their subsidiaries can be qualified stablecoin issuers. For details on the conditions allowing banks to issue stablecoins under the GENIUS Act, refer to Chain News’s previous analysis.

Next steps: tokenized deposits earning interest, SoFiUSD to be listed on Bullish for institutional liquidity

SoFi also announced future plans to launch tokenized deposits, allowing members holding SoFiUSD to earn interest and be protected by FDIC insurance; another plan is to list SoFiUSD on the compliant crypto exchange Bullish to provide institutional-grade liquidity.

SoFi did not disclose the current circulation volume or the expected issuance cap of SoFiUSD in the announcement.

• This article is reprinted with permission from: Chain News
• Original title: “SoFi Bank Stablecoin SoFiUSD Enters App, 14.7 Million Members Can Buy”
• Original author: Elponcrab