SoFiUSD, the first stablecoin issued by a U.S. national bank, is now live on Polygon Open Money Stack, alongside Ethereum and Solana. SoFi’s more than 17 million members can buy, sell, hold and convert the token directly in the SoFi app without opening a separate crypto wallet or manually bridging assets between chains. Issued by SoFi Bank, it is redeemable one-for-one for U.S. dollars and joins USDC, USDT and PYUSD on infrastructure also used by Visa, Mastercard and Stripe. The expansion builds on SoFi Earn, a tokenized deposit paying a 4.40% yield, and the growth of stablecoin payments, which Polygon says have exceeded $3 trillion in lifetime transfer volume.
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