Exclusive: SoFi Makes Its Stablecoin Available to 15 Million Customers -- WSJ

Dow Jones

May 27

By Vicky Ge Huang

SoFi Technologies said its nearly 15 million users can now buy, sell and hold its stablecoin directly within the SoFi app.

Stablecoins have experienced rapid growth since President Trump signed the Genius Act into law last year, establishing a regulatory framework for the dollar-pegged cryptocurrencies. The total market cap of all stablecoins in circulation amounts to about $318 billion, according to CoinGecko.

SoFi launched its dollar-pegged stablecoin, called SoFiUSD, in December. The token currently has a market cap of about $100 million. The company, which offers lending, banking and investing services, is the first national bank to offer a stablecoin on a public blockchain. The stablecoin is available on the Ethereum and Solana networks.

Until now, SoFi has mostly used its stablecoin for internal settlement activities. Starting in the third quarter, SoFi's individual users will be able to convert SoFiUSD into bank deposits represented as tokens on a blockchain, allowing them to earn interest and be covered by FDIC insurance.

SoFi said it will also launch its stablecoin on Bullish, the crypto exchange led by former New York Stock Exchange president Tom Farley, by the end of June.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

May 27, 2026 06:45 ET (10:45 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 27, 2026 06:45 ET (10:45 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SOFA","symbol_name":"Direxion Daily SOFI Bull 2X ETF","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2638103501","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2638103501","pubTimestamp":1779878700,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"SoFi Technologies said its nearly 15 million users can now buy, sell and hold its stablecoin directly within the SoFi app.Stablecoins have experienced rapid growth since President Trump signed the Genius Act into law last year, establishing a regulatory framework for the dollar-pegged cryptocurrencies. 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