Read this article on bsc.news SoFi Technologies has expanded SoFiUSD, a stablecoin issued by its national bank subsidiary, to the Polygon (@0xPolygon) network. Polygon Labs said the stablecoi
SoFi Technologies has expanded SoFiUSD, a stablecoin issued by its national bank subsidiary, to the Polygon (@0xPolygon) network. Polygon Labs said the stablecoin is available on Polygon Open Money Stack, adding to existing Ethereum and Solana support.
SoFi (@SoFi) has described SoFiUSD as the first stablecoin issued by a U.S. national bank on a public, permissionless blockchain. The token is a fully reserved U.S. dollar stablecoin issued by SoFi Bank, N.A.SoFi Bank is an OCC-regulated national bank, and the token is redeemable one-to-one for U.S. dollars.
Polygon Labs said SoFi's more than 17 million members can buy, sell, hold, and convert SoFiUSD on Polygon through the SoFi app.Members do not need a separate wallet or manual cross-chain transactions to do so.
For companies, the token connects to Polygon's payments layer. Open Money Stack bundles fiat on- and off-ramps, embedded wallets and cross-chain settlement into a single integration.SoFiUSD joins Circle's USDC, Tether's USDT, and PayPal's PYUSD on the platform.
Polygon Labs CEO Marc Boiron said in the announcement that SoFi combines the regulatory foundation of a national bank with the reach of a major consumer and enterprise technology platform.
SoFi introduced the token in late 2025 as part of a wider push into digital assets. The launch positioned SoFi as a stablecoin infrastructure provider for banks, fintechs, and enterprise platforms.SoFiUSD launched across Ethereum and Solana, and it already settles the company's entire card program over Mastercard's network.
Polygon is also leaning on stablecoin payments as a growth area. The company says the chain has processed more than $3 trillion in lifetime stablecoin transfer volume.
SoFi has stressed the limits of the product. SoFiUSD is a payment stablecoin, not a bank deposit, and is not FDIC- or SIPC-insured, bank-guaranteed or legal tender.
The Polygon expansion extends the token's reach across a third major network as banks and fintechs test stablecoins for settlement and cross-border payments.
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