stable coins
By Sydney TheCMO
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What SoFiUSD Actually Does. The stablecoin isn't a consumer-facing product in the traditional sense. It's a settlement layer.
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The $25 Billion Target and What It Means. Twenty-five billion dollars in annualized transaction volume would be significant for any…
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What's Still Unknown. Plenty, honestly. SoFi and Mastercard haven't said much about how user adoption will be tracked,…
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SoFi launched SoFiUSD. It's live on Mastercard's network, and the company wants $25 billion in annualized transaction volume out of it.
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That's a big number for a stablecoin program that's basically just getting started. SoFiUSD is built to handle settlement on SoFi's card program, using blockchain rails instead…
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SoFi didn't disclose specific operational details about how the settlement mechanics work at a technical level.
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The Mastercard angle is worth sitting with for a second. Partnering with a legacy payments giant to run a stablecoin settlement layer is a pretty deliberate signal.
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If SoFi hits anywhere close to that target, it would put SoFiUSD among the more consequential stablecoin deployments in mainstream finance.
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Related: NEAR Token Rises 80% as Cross-Chain Swap Volume Hits $29.3 Billion
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And that's probably what SoFi is banking on. The company has spent years building a financial services platform aimed at a younger, digitally comfortable demographic.
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The Mastercard partnership gives SoFi reach it couldn't build on its own. Mastercard's acceptance network spans millions of merchants globally.
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Plenty, honestly. SoFi and Mastercard haven't said much about how user adoption will be tracked, what happens if the stablecoin mechanism runs into stress, or whether additional…
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There's also the broader regulatory picture. Stablecoin legislation in the U.S. has been a moving target for years.
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See also: NEAR Token Soars 80% as Intents Platform Reaches $30 Billion in Volume
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No details on user-facing features, either. Whether cardholders will see any difference in their experience — faster refunds, lower fees, something else — hasn't been spelled out.
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