Stablecoins & Markets
Kim Min-jun
Coverage focuses on reserves, redemption and the flow of money through digital-asset markets.
View articlesSoFiUSD (SoFi)
SoFiUSD (ticker SOFID) (SoFiUSD) is a US dollar-backed stablecoin issued by SoFi Bank, N.A., launched on December 18, 2025. Regulation: issued by SoFi Bank, N.A., a national bank regulated by the OCC; OCC decision of July 23, 2026 approved an operating subsidiary to issue and redeem payment stablecoins, conditioned on conforming to the GENIUS Act. It is not on ESMA’s list of e-money tokens authorized under MiCA.
- Ticker
- SoFiUSD
- Issuer
- SoFi Bank, N.A.
- Pegged to
- US dollar
- Type
- Fiat-backed
- Launched
- December 18, 2025
- E-money token under MiCA
- No
- Supply
- 52.5 million SoFiUSD
- Supply as of
- June 30, 2026
- Checked on
SoFi’s terms say reserves consist only of high-quality liquid assets such as cash and demand deposits. Its quarterly report shows $52.5 million of SoFiUSD outstanding on June 30, 2026, matched by US dollars held in cash. Reserve reporting: regular attestations by an independent CPA (frequency not stated). Supply: 52.5 million SoFiUSD as of June 30, 2026, according to the issuer.
Only approved SoFi customers can buy and redeem, at par net of disclosed fees. Holding the token alone gives no direct redemption right, and EEA and UK persons are excluded. The issuer lists 2 networks where the token is issued natively: Ethereum and Solana.
- Token name
- SoFiUSD (ticker SOFID)
- Brand
- SoFi
- Regulation
- Issued by SoFi Bank, N.A., a national bank regulated by the OCC
OCC decision of July 23, 2026 approved an operating subsidiary to issue and redeem payment stablecoins, conditioned on conforming to the GENIUS Act - Reserves
- SoFi's terms say reserves consist only of high-quality liquid assets such as cash and demand deposits. Its quarterly report shows $52.5 million of SoFiUSD outstanding on June 30, 2026, matched by US dollars held in cash.
- Reserve reporting
- Regular attestations by an independent CPA (frequency not stated)
- Supply, millions of tokens
- 52.5
- Redemption
- Only approved SoFi customers can buy and redeem, at par net of disclosed fees. Holding the token alone gives no direct redemption right, and EEA and UK persons are excluded.
- Networks (native issuance)
- Ethereum, Solana
- Number of networks
- 2
- Website
- sofi.com
- Sources
Page URL SoFi SoFiUSD product page https://www.sofi.com/crypto/sofiusd/ SOFID Terms of Use (effective 22 Jun 2026) https://d32ijn7u0aqfv4.cloudfront.net/wp/wp-content/uploads/raw/SOFID-Terms-of-Use-6.22.26.pdf SoFi press release 18 Dec 2025 (launch) https://investors.sofi.com/news/news-details/2025/SoFi-Launches-Fully-Reserved-Stablecoin-to-Power-Financial-Infrastructure-for-Banks-Fintechs-and-Enterprise-Partners/ SoFi press release 27 May 2026 (member launch) https://investors.sofi.com/news/news-details/2026/SoFiUSD-Becomes-the-First-Stablecoin-Issued-by-a-US-National-Bank-to-Launch-on-a-Banking-Platform/default.aspx SoFi support: What is SoFi USD? https://support.sofi.com/hc/en-us/articles/what-is-sofi-usd OCC Corporate Decision #1388 (SoFi Bank op-sub) https://www.occ.gov/topics/charters-and-licensing/interpretations-and-decisions/2026/cd1388.pdf SoFi Technologies Form 10-Q (Q2 2026) https://d18rn0p25nwr6d.cloudfront.net/CIK-0001818874/077b61df-f9fd-48dd-8540-e7a989bdc3a8.pdf ESMA interim MiCA register: e-money token issuers https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv
