What is SoFiUSD?

SoFiUSD (SOFID) is a stablecoin pegged 1:1 to the U.S. dollar, issued by SoFi Bank, N.A. — the first U.S. national bank to offer its own stablecoin directly to retail users. The token is available on Ethereum and Solana. Users can buy, sell, hold and convert SoFiUSD within the SoFi app, which also offers banking, investing and lending services. SoFiUSD is redeemable 1:1 for U.S. dollars from bank reserves. Planned features include FDIC-insured tokenized deposits, 24/7 cross-border transfers and integration with the Bullish exchange. Reserves are audited regularly by an independent CPA.