Summary
SoFi Bank, N.A. and Mastercard announced that SoFiUSD settlement on Mastercard's global payment network is now live, making it the first US bank to settle on a major card network using its own issued stablecoin as a nationally chartered bank. SoFi moved its entire debit and credit card program, wor…
Key points
- This is a case of stablecoins moving from payment pilots into bank core ledger processing, letting readers understand how card-network settlement layers actually work and their limits.
- It pushes stablecoins from a "wallet product" to "back-end settlement infrastructure for banks and card networks," directly changing clearing speed, liquidity management, and where compliance responsibility sits.
- For merchants, settlement funds can be credited instantly and withdrawn at zero cost; for issuers and processors it poses new liquidity and reconciliation design challenges; for regulators it creates new review areas around 24-hour continuous settlement and reserve management.
Editorial note
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