SoFi Expands Mastercard Partnership to Enable SoFiUSD Stablecoin Settlement Across Global Payments Network
SoFi Technologies announced on March 3, 2026, an expanded partnership with Mastercard to enable its fully reserved U.S. dollar stablecoin, SoFiUSD, as a settlement option across Mastercard’s global payments network.
SoFiUSD, issued by OCC-regulated and FDIC-insured SoFi Bank, N.A., is the first stablecoin offered by a U.S. nationally chartered bank and will be supported on Mastercard’s Multi-Token Network, allowing issuers and acquirers to settle card transactions using the stablecoin. SoFi Bank plans to settle its own Mastercard-powered credit and debit transactions in SoFiUSD, targeting faster money movement for cross-border remittances and business-to-business transfers with 24/7 settlement capability.
Partnership Overview and Strategic Goals
Under the expanded collaboration, SoFi and Mastercard will explore how issuers and acquirers can settle card-based transactions using SoFiUSD, enabling faster settlement options for Mastercard customers. The initiative aims to unlock more efficient transactions for use cases including cross-border remittances and B2B transfers, with settlement available 24 hours a day, seven days a week.
SoFi Bank intends to settle its own credit and debit transactions powered by the Mastercard network in SoFiUSD, demonstrating direct integration of the stablecoin into real-world payment flows. SoFiUSD is fully backed 1:1 by cash reserves held for immediate redemption, providing liquidity to merchants and issuers in the Mastercard network.
Technical Integration with Mastercard Multi-Token Network
SoFiUSD is expected to be supported across Mastercard’s Multi-Token Network, the company’s digital asset platform designed to connect traditional financial rails with digital assets. The integration aims to enhance interoperability across fiat currencies, stablecoins, and tokenized deposits while providing greater settlement options throughout the payments ecosystem.
The Multi-Token Network support will enable seamless interaction between regulated stablecoins and Mastercard’s existing infrastructure, expanding the operational capabilities of digital currencies at global scale.
Galileo’s Role in Enabling Stablecoin Settlement
Galileo, SoFi’s technology platform, is expected to be among the first to offer its payment card clients and their issuing banks the option to settle transactions in SoFiUSD. This positions Galileo as an early enabler of stablecoin-based settlement for financial institutions seeking faster and more efficient payment processing.
The companies will also explore additional interoperability use cases beyond settlement, including programmable treasury applications and new money movement and payout scenarios, subject to regulatory considerations.
Executive Statements on Strategic Importance
SoFi CEO Anthony Noto stated that SoFiUSD is central to the company’s strategy to make money movement faster, cheaper, and safer globally. With SoFiUSD as a settlement currency across Mastercard’s network, card issuers and acquirers can more easily enable millions of businesses worldwide to instantly settle transactions around the clock.
Sherri Haymond, Global Head of Digital Commercialization at Mastercard, said the partnership expands how trusted digital currencies can be used at global scale. Bringing stablecoin settlement on the Mastercard network connects regulated stablecoins with the reliability, security, and reach expected by consumers, businesses, and financial institutions, expanding choice and flexibility across the payments ecosystem.
Broader Stablecoin Adoption Context
The announcement comes amid accelerating stablecoin adoption in global financial services. Approximately $30 billion is transacted daily in stablecoins, with issuance in 2025 doubling from the prior year. A global study found that more than half of crypto holders have held stablecoins in the past 12 months, and over 75% would open a stablecoin wallet if their bank or fintech app offered one.
SoFi’s expansion follows its November 2025 relaunch of SoFi Crypto, allowing members to buy, sell, and hold digital assets directly within its banking app. The company launched SoFiUSD in December 2025 as what it described as the first stablecoin issued by a nationally chartered bank on a public blockchain.
Parallel industry developments include Visa’s expanded stablecoin settlement pilot with Stripe-owned Bridge, bringing stablecoin-linked cards to over 100 countries by year-end and enabling consumers to spend stablecoins at Visa’s 175 million merchant locations.
FAQ: SoFiUSD and Mastercard Partnership
What is SoFiUSD and how is it different from other stablecoins?
SoFiUSD is a U.S. dollar stablecoin issued by SoFi Bank, N.A., an OCC-regulated, FDIC-insured depository institution. It is fully reserved 1:1 by cash for immediate redemption and deployed on a public, permissionless blockchain. It represents the first stablecoin offered by a U.S. nationally chartered bank.
How will the SoFiUSD-Mastercard partnership work in practice?
Under the partnership, issuers and acquirers can settle card-based transactions with Mastercard using SoFiUSD, enabling faster settlement options for Mastercard customers. SoFi Bank plans to settle its own credit and debit transactions powered by the Mastercard network in SoFiUSD, and Galileo will offer its payment card clients the option to settle transactions in the stablecoin. SoFiUSD is also expected to be supported across Mastercard’s Multi-Token Network.
What use cases will this enable?
The collaboration targets faster money movement for cross-border remittances and B2B money transfers, with potential for programmable treasury applications and additional money movement scenarios subject to regulatory considerations. The goal is to enable 24/7, near-instant settlement for banks, fintechs, and enterprise partners.