SoFiUSD, the stablecoin issued by the American bank SoFi, arrived on Polygon on Thursday, November 12, after Ethereum and Solana. The bank’s 17 million customers can now buy, sell and convert the token directly in the app, without a separate wallet or a cross-chain bridge. Polygon welcomes it alongside USDC, USDT and PYUSD within its Open Money Stack payments layer, which connects bank accounts with stablecoins and local currencies. Each SoFiUSD can be exchanged one-for-one with a US dollar, but it is not a bank deposit and is not covered by the FDIC or SIPC. Polygon Labs says the network has recorded more than $3 trillion in cumulative stablecoin transfers since its launch.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
