FinTechNews2 min readAI-assisted

Mastercard and SoFi Launch Stablecoin Settlement for $25B Card Program

Mastercard and SoFi Technologies have begun using stablecoin settlement across SoFi Bank's entire $25 billion debit and credit card program, using SoFi's own

September 22, 2026Source: pymnts.com ↗

Mastercard and SoFi Technologies are now using stablecoin settlement across SoFi Bank, N.A.'s debit and credit card program, SoFi said in a Tuesday (Sept. 22) press release.

SoFi Bank is migrating its entire $25 billion card program to stablecoin settlement of transactions, according to the release. The program uses SoFiUSD, a U.S. dollar-backed stablecoin issued by SoFi Bank, together with Mastercard's global payments network.

SoFi CEO Anthony Noto said in the release that through SoFi's Big Business Banking platform, any merchant can receive settlement funds instantly in a SoFi Bank account and withdraw to cash around the clock and at zero cost.

Key details

SoFi Bank's card program under migration is valued at $25 billion.
The stablecoin used for settlement is SoFiUSD, issued by SoFi Bank and backed by the U.S. dollar.
Mastercard's global payments network is the infrastructure partner for the rollout.
Merchants can withdraw settlement funds to cash at zero cost, around the clock, via SoFi's Big Business Banking platform.

The move is described as step one of a broader rollout of stablecoin settlement between the two companies.

Read the original report at PYMNTS

UK's Largest Banks Complete World's First Interbank Tokenized Deposit Transactions

Seven major UK banks used a shared platform built by Quant to complete the world's first customer transactions with tokenized British pound deposits.

September 24, 20263 min read

Six Canadian Banks Detail First Phase of Tokenized Deposit Project

FinTech

News

Six Canadian Banks Detail First Phase of Tokenized Deposit Project

Bank of Montreal, CIBC, National Bank of Canada, RBC, Scotiabank and TD Bank Group are jointly exploring a shared Canadian-dollar tokenized-deposit system.

September 23, 20262 min read

FinTech

News

First Abu Dhabi Bank Completes Live Tokenized Deposit Settlement With Citi via Swift Ledger

First Abu Dhabi Bank has executed live U.S. dollar transactions at scale using tokenized deposits through Swift's Ledger MVP, in a bilateral deployment with

September 17, 20262 min read