SoFiUSD, the US dollar-pegged stablecoin issued by SoFi Bank, N.A., launched on Ethereum on December 18, 2025, before reaching Solana in April 2026 and Monad around August 25, 2026. BitGo is providing the infrastructure for this expansion through its stablecoin-as-a-service platform. Monad, a Layer 1 blockchain designed for high throughput, can process more than 10,000 transactions per second using parallel execution. The token is redeemable 1:1 for US dollars, while its reserves are primarily held in SoFi Bank’s Federal Reserve account and are subject to regular third-party attestations.
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