Search results for SoFi Technologies
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.
Crypto
Mastercard, SoFi team up to introduce stablecoin in card settlement process
Mastercard has begun a test to introduce stablecoins into the settlement process that follows card payments. It is working with U.S. financial services company SoFi Technologies to settle card transactions using a regulated digital dollar, SoFiUSD. The pilot keeps the consumer payment experience unchanged and applies blockchain-based assets only to the interbank settlement stage. SoFi Bank plans to settle Mastercard credit and debit transactions in SoFiUSD, supported by Galileo Financial Technologies.
Crypto
Mastercard launches crypto partner program with Binance, Ripple among participants
Mastercard has launched a global cryptocurrency partner program, Cointelegraph reported on March 11. The program includes more than 85 companies such as Binance, Ripple and PayPal. Mastercard plans to build a blockchain-based payments network linking digital assets with the payments industry. Participants will cooperate to enable practical roles for cryptocurrencies in cross-border transfers, settlement and commercial payments. Mastercard said digital assets have entered a new stage.
