SoFi shares rise as SoFi Bank starts stablecoin settlements
SoFi Technologies said SoFi Bank has begun using stablecoins to settle transactions across its Mastercard card network, making its $25 billion card portfolio eligible via SoFiUSD; the stock climbed about 1% Tuesday.
SoFi Technologies NASDAQ:SOFI shares climbed about 1% Tuesday after the company said its bank has begun using stablecoins to settle transactions across its Mastercard card network. The rollout makes SoFi Bank's entire $25 billion card portfolio eligible for settlement through SoFiUSD, the company's stablecoin.