SoFi Integrates SoFiUSD into Polygon Payment Network

Fintech company SoFi has integrated its issued stablecoin, SoFiUSD, into the Polygon Open Money Stack. SoFiUSD is the first stablecoin issued by a national bank in the United States and has previously operated on Ethereum and Solana. SoFi's over 17 million users can buy, hold, and exchange SoFiUSD through the SoFi app without needing to open a separate crypto wallet or manually bridge chains. SoFiUSD is pegged to the US dollar at a 1:1 ratio and is issued by SoFi Bank, which is regulated by the Office of the Comptroller of the Currency, and has been used to settle all Mastercard transactions for SoFi. This stablecoin does not constitute bank deposits and is not insured by the FDIC or SIPC, nor is it guaranteed by a bank or considered legal tender.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.