SoFi Technologies has migrated its entire card program, valued at $25 billion, to a stablecoin-based settlement system. The initiative utilizes SoFiUSD, a dollar-backed stablecoin issued by SoFi Bank, in partnership with the Mastercard global payments network.
The new infrastructure allows for stablecoin settlement of debit and credit card transactions without requiring changes from consumers or merchants. This model focuses on replacing the back-end settlement machinery rather than altering the user-facing payment experience.
Simultaneously, the processor Thredd announced an expansion of its platform to support stablecoin-powered money movement. Their rollout targets B2B applications, including cross-border payouts, global treasury flows, and on-chain settlement.
Mastercard is also integrating stablecoin orchestration and white-label wallet capabilities into its existing payment stack. Company executives view this infrastructure as a strategic growth opportunity for the network.
Industry analysts note that shifting to stablecoin settlement changes key performance metrics. Success is now measured by transaction velocity, settlement volume, and liquidity efficiency rather than the total number of tokens in circulation.
