SoFi, a national bank in the United States, launched the US dollar stable currency SoFiUSD, which is now listed on Ethereum

PANews reported on December 18 that according to The Block, SoFi Bank released the U.S. dollar stable currency SoFiUSD (1:1 cash reserve), becoming the first U.S. national bank to issue a stable currency on a public chain. SoFiUSD has been listed on Ethereum, providing 7×24 near-instant, low-cost settlement for banks, financial technology and corporate partners, and plans to open it to SoFi users. SoFi stated that it can hold cash reserves in the Federal Reserve account, share earnings, and support white label issuance by partners or direct access to settlement and payment processes. The stablecoin will also be used in card networks, retail settlements, SoFi Pay cross-border remittances and POS payments. This year, many institutions are promoting stablecoins, including KlarnaUSD, Western Union’s USDPT, and Stripe’s USDB.
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