US licensed bank launches stablecoin, SoFi enters new payment and settlement track

【BlockBeats】The US-listed fintech giant SoFi Technologies recently announced the launch of the US dollar stablecoin SoFiUSD, marking another significant exploration by traditional financial institutions into the crypto asset space. According to industry sources, this stablecoin is issued by SoFi Bank and targets the demand for faster, cheaper fund transfers from banks, fintech companies, and enterprise-level platforms.

It is noteworthy that SoFi Bank holds a national banking license in the United States and is fully insured by the FDIC, making SoFiUSD the first stablecoin infrastructure directly launched by a federally licensed bank. This endorsement of identity gives the product a natural credibility tag associated with traditional financial institutions.

From a technical perspective, SoFiUSD adopts a 1:1 fully cash-backed model, with all reserves held in Federal Reserve accounts. Users can redeem at any time on a 1:1 basis without worrying about credit or liquidity risks. This design logic is fundamentally different from some native crypto stablecoins, which often carry multiple risks.

The stablecoin is deployed on a public blockchain, enabling near real-time, low-cost, 24/7 fund transfers. Compared to traditional interbank wire transfers or SWIFT systems, which often take 1-2 business days, this solution opens up new possibilities for B2B payment clearing.

Currently, SoFiUSD is only in internal testing and is expected to gradually open to SoFi’s broad user base in the coming months. This phased approach reflects the cautiousness of traditional financial institutions and leaves room for product market education and risk management. For the entire industry, licensed banks entering the stablecoin track is becoming a new trend.