SOFI LAUNCHES SOFIUMSD STABLECOIN ON ETHEREUM, SOLANA

SoFiUSD is now accessible to SoFi's user base, enabling members to interact with stablecoins without leaving the platform. The coin maintains a 1:1 peg to the US dollar and operates across two major blockchain networks, providing flexibility for users. The launch expands SoFi's crypto offerings as the fintech company continues building out its digital asset services. Members can perform core stablecoin functions—purchasing, selling, storing, and converting the asset—through the existing SoFi app interface. Stablecoins have become increasingly popular in crypto markets as they reduce volatility compared to other digital assets while maintaining blockchain accessibility. SoFi's integration into its app simplifies onboarding for its existing customer base, which may have limited cryptocurrency experience. The dual-chain availability on Ethereum and Solana allows users to choose between the networks based on transaction costs and speed preferences.