SoFiUSD

SoFiUSD (SOFID) is a U.S. dollar payment stablecoin issued by SoFi Bank, N.A., a U.S. national bank regulated by the Office of the Comptroller of the Currency. It is designed to maintain a stable value relative to the U.S. dollar and is intended to be redeemable 1:1 for U.S. dollars, with reserves consisting primarily of cash.

SOFID is not a deposit, is not insured by the FDIC or SIPC, is not bank guaranteed and is not legal tender. The token is designed for payment and settlement use rather than investment. It does not pay interest, yield or other return to holders by virtue of holding the token itself.

SOFID operates on supported public blockchain networks. Ownership and transfers are recorded on the applicable blockchain and may be affected by network rules, fees, congestion, delays, smart contract risks and distributed ledger technology risks.

SOFID is used for digital payment and settlement activity. It may be used for payment transactions on supported blockchain networks, including certain 24/7 transfer functionality. Blockchain transactions are generally final and irreversible.

SoFi has positioned SOFID as part of its stablecoin infrastructure for banks, fintechs and enterprise platforms. Partners may use SoFi’s infrastructure to issue white-label stablecoins or integrate SoFiUSD into settlement flows.

Within SoFi’s own plans, SOFID is intended to support settlement for crypto trading, international remittances, consumer point-of-sale purchases and payment activity connected to Galileo, SoFi’s technology platform. SoFi has also announced work with Mastercard to explore SoFiUSD as a settlement option across Mastercard’s global payments network, including card-based settlement, cross-border remittances and B2B money transfers.

Issuance and redemption with the issuer are limited to approved SoFi customers under separate agreements. Holding or transferring SOFID does not, by itself, give a holder a direct right to redeem SOFID with the issuer.

SoFiUSD was launched by SoFi Technologies, Inc. and is issued by SoFi Bank, N.A. SoFi introduced SOFID in December 2025 as a U.S. dollar stablecoin backed by reserves held primarily in cash.

SoFi is led by Anthony Noto, Chief Executive Officer. Its crypto business is led by Flori Gilroy, SVP and Business Unit Leader for Crypto, who previously co-founded BlockFi and worked in financial services and fintech before joining SoFi. SoFi’s management team also includes Chris Lapointe, Chief Financial Officer, Rob Lavet, General Counsel, Arun Pinto, Chief Risk Officer and Jeremy Rishel, Chief Technology Officer.

SoFi Bank, N.A. is the named issuer of SOFID. The token’s terms allow SoFi to appoint another authorised entity as an additional or replacement issuer, subject to notice and the applicable agreement.