Mastercard and SoFi Launch Stablecoin Settlement for Cards
Mastercard and SoFi now settle card transactions using SoFiUSD stablecoins, cutting delays and costs for businesses.
In brief
Mastercard and SoFi now settle card transactions using SoFiUSD stablecoins, cutting delays and costs for businesses. Businesses get instant access to funds via stablecoin settlement with zero fees. Originally reported by Pymnts.
Stablecoin Settlement Begins
Mastercard and SoFi Bank now use SoFiUSD stablecoins to settle transactions across SoFi’s $25 billion card program.
“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.”
Instant Funds for Businesses
Businesses get faster access to funds via blockchain settlement with bank-level safeguards.
SoFiUSD Stablecoin Details
SoFiUSD is a dollar-backed stablecoin on a public blockchain enabling 24/7 near-instant transactions at fractional pricing.
Cross-Border Expansion Plans
Mastercard and SoFi aim to expand SoFiUSD settlement for cross-border payments and remittance services.
Merchant Partnerships
SoFi is working with large U.S. merchants to adopt stablecoin settlement for payments.
Mastercard’s Growth Strategy
Mastercard plans to embed stablecoin orchestration into its payments infrastructure by 2026.
What to remember
Businesses get instant access to funds via stablecoin settlement with zero fees.
