American bank SoFi Bank launched its own stablecoin, SoFiUSD, on the Ethereum and Solana networks today, May 27th. Digital assets maintain direct parity with banking institutions’ fiat currencies and can be exchanged for US dollars directly from banking institutions.
This announcement represents “the first step in our roadmap.” Integrating the utility of stablecoins more broadly across the SoFi ecosystemthe bank said in a statement that it plans to add new options to its product offering in the coming weeks.
This initiative is a direct response to regulatory action by the U.S. Commodity Futures Trading Commission (CFTC) announced on February 6th. On the same day, the CFTC’s Division of Market Participants included national banks as authorized issuers, allowing banks to issue their own stablecoins and authorize them to be accepted as margin collateral in the futures market.
SoFi Bank’s technology developments drive the integration of digital financial services and Platform members convert SoFiUSD into tokenized depositsas reported by CriptoNoticias, implementation is scheduled for the third quarter of 2026.
Under this scheme, money is represented as a fiat-equivalent token for instant internal settlement, without changing its regulatory status, and allows users to earn interest based on separate deposit account terms (as promised by the bank) and access FDIC insurance.
The structure aims to optimize the speed of operations of the bank, which was founded in 2011, by relying on a cryptocurrency network that provides global mobility. Allow members to move stablecoins 24/7with lower costs and delays than the typical financial system.
The company’s expansion strategy also includes plans to launch SoFiUSD on Bullish, a cryptocurrency exchange for institutional customers.
The entry of regulated banks impacts a highly concentrated sector dominated by financial institutions such as: Native cryptocurrency issuers such as Tether’s USDT and Circle’s USDCa company widely used in digital asset trading and decentralized finance. It remains to be seen whether these new banking products will be able to take market share from large incumbent banks, which do not rely on traditional banking infrastructure for day-to-day liquidity.
Despite these challenges, adoption trends continue to add traditional actors. On March 12, Wells Fargo Bank filed a trademark application with the U.S. Patent and Trademark Office (USPTO) for a unit called WFUSD (apparently a new stablecoin), while Western Union announced that it will launch the stablecoin USD Payment Token (USDPT), issued by Anchorage Digital Bank, on the Solana Network on May 4, 2026.
(Tag translation) Altcoin
