SoFi Launches SoFiUSD Stablecoin for Cross-Border Payments

SoFi has introduced SoFiUSD, a stablecoin backed by the U.S. dollar, accessible to its nearly 15 million members. According to NS3.AI, the token operates on both the Ethereum and Solana blockchains and can be redeemed at a 1:1 ratio for U.S. dollars through SoFi Bank. The company aims to utilize SoFiUSD for cross-border payments and business-to-business transactions.