Search results for SoFi Bank
Crypto
Falcon Finance and SoFi launch dollar stablecoins targeting institutions and retail users
Falcon Finance and SoFi have launched U.S. dollar stablecoin products linked to U.S. banking infrastructure. Falcon Finance introduced the institutional-focused fUSD through Anchorage Digital Bank’s federally regulated issuance platform, with reserves held in short-term U.S. Treasuries, cash and Treasury-backed repos. SoFi unveiled SoFiUSD for retail users inside its app, supporting transfers on Ethereum and Solana and planning additional features in coming weeks.
Crypto
SoFi expands SoFiUSD stablecoin to Solana
SoFi Technologies will issue its SoFiUSD stablecoin on the Solana blockchain in addition to Ethereum, The Block reported on Monday. Ben Reynolds, SoFi’s head of corporate finance, said the company chose Solana as a chain suitable for payments, citing costs, payment speed and processing capacity. SoFi launched SoFiUSD, issued by SoFi Bank, on Ethereum in December and later expanded a partnership with Mastercard to use it as a global payment-network settlement currency.
Finance
Fintech firm Mercury clears U.S. OCC hurdle, speeds push to launch own bank
U.S. fintech firm Mercury has received conditional approval from the Office of the Comptroller of the Currency for its national bank charter application, moving it to the next stage of launching Mercury Bank. The company said it will keep working with regulators to meet remaining requirements. Mercury is also seeking federal deposit insurance from the FDIC and plans to apply to the Federal Reserve to convert into a bank holding company.
