SoFi Bank Partners with Mastercard to Pioneer Stablecoin Settlement for U.S. National Banks, Ushering Credit Card Transactions into On-Chain Era

SoFi Bank has become the first U.S. nationally chartered bank to enable stablecoin settlement on Mastercard's global payment network using its own bank-issued stablecoin, SoFiUSD. The bank plans to migrate its $25 billion annual credit card portfolio to an on-chain settlement system while maintaining the same cardholder experience.

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