SoFi to Issue Stablecoin on Solana, Citing Speed and Cost Advantages
SOFI sits 30% above its 52-week low of $12.43.
Summary
SoFi Technologies announced it will begin issuing its SoFiUSD stablecoin on the Solana blockchain, citing the network's speed and cost efficiency for payments. This move expands the reach of SoFi's stablecoin, which was initially launched on Ethereum in December 2025 with plans for multi-chain expansion. The company recently extended its partnership with Mastercard to position SoFiUSD as a settlement currency, making this Solana integration a strategic step to enhance the stablecoin's utility and adoption. This development is positive as it demonstrates SoFi's continued execution in the digital assets space and could improve the efficiency and reach of its financial products.
At the time of this announcement, SOFI was trading at $16.12 on NASDAQ in the Finance sector, with a market capitalization of approximately $20.6B. The 52-week trading range was $12.43 to $32.73. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: The Block.