Search results for SoFi Technologies
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.
Crypto
SoFi launches bank-issued stablecoin SoFiUSD in partnership with BitGo
Fintech platform SoFi Technologies will launch SoFiUSD, a stablecoin that complies with U.S. federal regulations, in partnership with digital asset custodian BitGo, Cointelegraph reported on March 5. SoFiUSD is described as the first stablecoin issued on a public blockchain by a federally chartered depository bank. BitGo will support issuance through its stablecoin-as-a-service platform and help connect it to payment firms, market participants and crypto exchanges.