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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.

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.