• SoFi (SOFI) becomes the first nationally chartered U.S. bank to issue a fully reserved stablecoin, SoFiUSD, on a public blockchain.
  • CEO Anthony Noto visited Washington D.C. this week to push for the Clarity Act, emphasizing the company's unique positioning in crypto.
  • The stablecoin will be available to consumers by the end of Q1 2026, with infrastructure white-labelable to other banks and fintechs.

SoFi Technologies, a digital financial services company with approximately 10 million members, launched its fully reserved stablecoin, SoFiUSD, on Thursday, marking a significant milestone as the first nationally chartered U.S. bank to issue one on a public blockchain. Initially deployed on Ethereum, with cross-chain expansion planned, the move taps into the growing crypto market, where global stablecoin supply exceeds $200 billion. CEO Anthony Noto stated that SoFi is "uniquely positioned to benefit from crypto," highlighting the company's integrated banking infrastructure as a key advantage.

Efforts to expand crypto offerings have been building momentum, with SoFi Crypto launching in late 2025, offering nearly 30 coins including Bitcoin, Ethereum, and Solana. The stablecoin rollout, hinted at in December 2025, addresses slow settlements and unverified reserves in the industry, leveraging SoFi's status as a bank to provide transparent, FDIC-supervised backing. Noto's visit to D.C. this week aimed to advocate for the Clarity Act, seeking further regulatory clarity amid a shifting landscape post-Genius Act, which recently provided a framework for FDIC-supervised banks to issue stablecoins via subsidiaries.

Without such regulatory support, the company might have faced hurdles similar to earlier limited efforts by peers like JPMorgan (JPM). According to people familiar with the matter, Noto's discussions in Washington emphasized the need for stable rules to foster innovation and consumer safety. In a brief statement, Noto noted, "We're focused on creating efficient tools for payments and remittances, and blockchain represents a technology super cycle transforming finance." Attempts to reach other industry stakeholders for comment were unsuccessful as of Thursday afternoon.

Market reaction has been cautiously optimistic, with SoFi's stock showing modest gains in early trading, reflecting investor interest in diversification amid high interest rates. The company, which achieved profitability in Q4 2024 for the first time as a public entity, sees crypto as a potential driver of 20-30% revenue growth if adoption accelerates. Promotions for SoFi Crypto, such as a $10 stablecoin bonus for new accounts and a 1% match on buys up to $250,000 through December 2026, aim to boost consumer uptake.

Industry trends are shifting, with banks like Citi (C) and PNC (PNC) planning stablecoins via partnerships with Coinbase, signaling mainstream adoption. The FDIC has issued a proposed rule and anticipates around 10 annual applications from its 2,700 banks, though it flags uncertainty on uptake. For SoFi, the short-term focus is on consumer rollout by the end of Q1 2026, with infrastructure designed to be white-labelable to other banks and fintechs, potentially lowering costs and enhancing efficiency in the broader financial ecosystem.

Correction: An earlier version of this article misstated the timeline for SoFiUSD availability; it is set for the end of Q1 2026, not Q1 2025.