SoFi Launches First U.S. National Bank Stablecoin on ETH &…

SoFi, the $53 billion U.S. national bank, has launched what it claims is the first stablecoin ever issued by a federally chartered American bank, going live simultaneously on Ethereum and Solana. The dual-chain deployment signals a deliberate choice to reach both institutional DeFi liquidity on Ethereum and high-throughput retail settlement on Solana.

The move is a landmark for U.S. banking regulation as much as it is for crypto. National banks operate under OCC oversight, meaning SoFi's stablecoin carries a level of regulatory legitimacy that fintech-issued or offshore stablecoins have never had. It sets a direct precedent for other chartered institutions watching from the sidelines.