Abandon Ethereum in favor of Solana? SoFi expands its stablecoin portfolio, SoFiUSD targets the payment market

SoFi, a U.S. fintech giant, announced that it will expand its stablecoin SoFiUSD to the Solana blockchain. The company is drawn to Solana’s low cost and high throughput, and has partnered with Mastercard to promote cross-border payment settlement.·

After officially launching its own stablecoin “SoFiUSD” at the end of last year, SoFi, a well-known U.S. fintech giant, announced that it would broaden its lineup and begin issuing the token on the Solana blockchain.

Why choose Solana? On Tuesday, Ben Reynolds, Head of Corporate Banking at SoFi, said:

We believe Solana is the most suitable public chain for payment scenarios—not only because of its low transaction costs and extremely fast settlement speeds, but more importantly because it has powerful throughput.

In December 2025, SoFi launched the U.S. dollar stablecoin “SoFiUSD,” issued by SoFi Bank, which holds a U.S. federal banking charter, and backed by 100% equivalent reserve assets. Through this product, the company hopes to transform its bank into a “stablecoin infrastructure provider,” offering stablecoin solutions specifically for traditional banks, fintech companies, and large enterprise platform ecosystems.

SoFi’s entry into the stablecoin space echoes a major trend in traditional finance today: more and more banks and fintech firms are racing to issue dollar-pegged digital tokens. For example, payments giant PayPal has already seized the opportunity by launching its own stablecoin “PYUSD,” and Bank of America has also said it may follow suit.

At present, the global stablecoin market is still dominated by Tether (USDT) and Circle (USDC). However, Wall Street analysts generally believe that, with the passage of the stablecoin regulation bill《GENIUS Act》in the U.S. last year, and the wave of large financial institutions rushing to adopt and issue their own tokens, the overall stablecoin market size is expected to experience explosive growth over the next 10 years—from the current approximately $300 billion to over $1 trillion.

Solana becomes the new favorite of traditional finance, unlocking the “two handles” of cross-border payments

Notably, with its high-efficiency features, Solana appears to be becoming traditional industry giants’ new “settlement darling.” Earlier this week, cross-border remittance leader Western Union also announced that it will launch a dedicated stablecoin on Solana, to serve as a 24/7 settlement asset for its global payment network.

In fact, SoFiUSD was initially deployed on Ethereum, but SoFi has already planned to gradually expand to other blockchains to meet different operational needs. Just last month, SoFi further deepened its cooperation with international card network Mastercard, aiming to make SoFiUSD a settlement currency within cross-border payment networks.

Issuing stablecoins is just one part of SoFi’s extensive Web3 blueprint. In November of last year, the company officially began providing cryptocurrency trading services to customers.

• This article is reprinted with permission from:《Block Guest》
• Original title:《Looking at the “fast and cheap” advantage! SoFi stablecoin “SoFiUSD” enters Solana》
• Original author: Block Sister MEL