SoFi to launch its stablecoin on Solana, citing speed and cost

After officially launching its stablecoin late last year, SoFi Technologies said it will begin issuing the token on Solana.

"We think it is the right chain to use for payments, partially because of the cost, partially because of the settlement speed and ultimately the throughput," Ben Reynolds, SoFi's head of big business banking, said Tuesday.

In December 2025, SoFi launched SoFiUSD, a fully reserved U.S. dollar stablecoin issued by SoFi Bank, a nationally chartered bank. SoFi launched the crypto product to position the bank as a stablecoin infrastructure provider for banks, fintechs, and enterprise platforms.

Initially, the stablecoin was deployed on Ethereum, with plans to extend to other networks over time.

Last month, SoFi extended its partnership with Mastercard to position SoFiUSD as a settlement currency across the global payments network.