SoFi launches OCC-regulated SoFiUSD stablecoin for 15M members

SoFi launched SoFiUSD, a dollar stablecoin issued by SoFi Bank, N.A., on May 27, 2026. The token is available on Ethereum and Solana and can be bought, sold and held inside the SoFi app by about 15 million members. SoFi expects a broader rollout by early June.

SoFiUSD is pegged 1:1 to the U.S. dollar and backed by dollar reserves held at SoFi Bank. SoFi Bank is regulated by the Office of the Comptroller of the Currency. The company said independent Certified Public Accountant attestations will verify the reserves. SoFi disclosed that SoFiUSD is not a bank deposit, is not FDIC insured in its stablecoin form, is not guaranteed by the bank and is not legal tender.

The company outlined a three-part roadmap. Members will be able to convert SoFiUSD into tokenized, interest-bearing deposits that carry FDIC insurance once that feature launches. SoFi plans to offer global, 24/7 payments on blockchain rails to lower cross-border costs and delays, and to list the token on the Bullish exchange to support institutional trading and settlement. SoFi said it will add more blockchain networks beyond Ethereum and Solana.

SoFi contrasted SoFiUSD’s structure with major existing dollar tokens, noting issuers such as Circle and Tether operate under state money transmitter licenses or non-bank structures. SoFi Bank’s national charter places the product under federal bank oversight and OCC examination. The overall stablecoin market reached about $322 billion this week, and Congress is continuing work on the GENIUS Act to set federal rules for stablecoins.

SoFi noted distributing the token inside its banking app gives direct access to its customer base without a separate crypto account. Full availability for all members will follow an app update, the company added. SoFi expects the tokenized-deposit option and the exchange integration to roll out in the coming weeks.

In a statement, Anthony Noto, SoFi’s chief executive, wrote: ‘People no longer have to choose between blockchain technology and regulated banking products. With SoFiUSD, we’re giving our members a single place to buy, hold, and pay with digital assets in the same app they already use to save, spend, borrow, and invest.’