SoFi’s new stablecoin looks, sounds, and (almost) behaves like a bank deposit—except it can move 24/7 on public rails. That difference matters, not because it is “crypto,” but because it turns regulation, liquidity, and interest income into product features.
On December 18, 2025, SoFi said it had launched SoFiUSD, a “fully reserved” U.S. dollar stablecoin issued by SoFi Bank, N.A., its OCC-regulated bank subsidiary.
That sounds like yet another entrant in a market already dominated by two giants. DefiLlama data shows total stablecoin supply around $309 billion, with USDT alone roughly 60% of the market.
