SoFi makes stablecoin available to members

SoFi Technologies has launched its bank-issued, U.S. dollar-backed stablecoin, SoFiUSD, directly within its mobile app for its 14.7 million members. Customers can now buy, sell, hold, and convert SoFiUSD, with full availability expected by early June as users update their applications. This integration allows SoFi's user base to engage with a stablecoin directly through their existing banking platform, potentially increasing adoption and utility of digital assets within traditional financial services. The move signifies SoFi's continued expansion into the digital asset space.