SoFi Moves $25 Billion in Card Volume to SoFiUSD Settlement
1 report, 1 independent
Updated Oct 8
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What happened
SoFi is moving more than $25 billion of annualized card volume toward settlement using SoFiUSD. This effort is part of SoFi's push to pioneer stablecoin card payment settlements in the United States.
From fool.com
Why it matters
The success of this infrastructure depends on its ability to attract outside businesses, which would generate recurring fees, deposits, reserve income, and technology revenue. The next phase involves proving that the economics of the system can scale.
While SoFi is pioneering stablecoin card payment settlements in the US, Meta's AI agent previously caused issues that led to Amazon blocking the app.
From fool.com