How SoFiUSD got here
SoFiUSD debuted on December 18, 2025, on Ethereum. It was the first stablecoin issued on a public blockchain by a US nationally chartered, FDIC-insured depository institution.
On March 5, 2026, SoFi announced a partnership with BitGo covering infrastructure and distribution. BitGo’s Stablecoin-as-a-Service platform became the engine for getting SoFiUSD onto additional chains.
The expansion came in stages. SoFiUSD reached Solana by April 2026, and the Monad integration was announced around August 25 to 26, 2026.
The token is redeemable 1:1 for US dollars. Its cash reserves sit primarily in SoFi Bank’s Federal Reserve account, with regular third-party attestations confirming the backing.
Why Monad, and why a trader cares
Monad is a Layer 1 blockchain built for speed. It can process over 10,000 transactions per second using parallel execution.
That kind of throughput fits the use cases SoFi has outlined for its token. These include 24/7 settlement, business-to-business payments, and remittances.
Keone’s background in high-frequency trading gives the conversation an interesting texture.
The broader SoFi rollout
In May 2026, SoFi opened SoFiUSD access in its member app. Nearly 15 million SoFi members can use it to buy, sell, hold, and convert the stablecoin.
Card settlement went live by September 2026. Through a partnership with Mastercard, SoFi aims to channel over $25 billion in annualized card volume into the SoFiUSD ecosystem.
In October 2026, SoFi added a tokenized deposit product. That gives the bank another blockchain-based offering alongside the stablecoin itself.