SoFi, one of the largest US digital banks, has officially opened access to its own crypto stablecoin for its entire customer base of 15 million users — a landmark moment in the convergence of traditional banking and on-chain finance.
The move makes SoFi one of the first major US retail banks to roll out a proprietary stablecoin at scale, bypassing the fragmented third-party integrations that have defined most bank-adjacent crypto offerings to date. With 15 million users now able to hold and transact with a bank-issued stablecoin, the distribution footprint rivals some of the largest stablecoin issuers in the market.
The timing is notable: US stablecoin legislation is advancing in Congress, and SoFi's launch signals that regulated financial institutions are not waiting for final rules before moving.
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