Question 1

What is SoFiUSD and who issues it?

Accepted Answer

SoFi Bank, N.A., an OCC-regulated national bank, issues SoFiUSD, which is redeemable 1:1 for US dollars.

Question 2

Do merchants have to hold stablecoins to get paid?

Accepted Answer

No. Noto said merchants do not need to hold stablecoins, and they can withdraw settlement funds as cash around the clock at zero cost.

Question 3

How big is the card program moving to stablecoin settlement?

Accepted Answer

SoFi is migrating its entire $25 billion card program to SoFiUSD settlement across Mastercard's network.

SoFi Bank

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