SoFi stock rises 5% on $25B card shift to SoFiUSD

SoFi Technologies shares gained nearly 5% in morning trade on Tuesday, September 22, 2026. The move followed the company's announcement that stablecoin settlement is now live across its entire debit and credit card program on Mastercard's global payments network.

The company is migrating its full $25 billion card program to blockchain settlement using SoFiUSD. SoFi expects the program to process more than $25 billion in annualized volume through the token, with transactions already live on the blockchain. SoFi stated that the launch makes it the first national bank to offer stablecoin settlement across Mastercard's network.

SoFiUSD is issued by SoFi Bank, an OCC-regulated national bank, and is fully redeemable 1:1 for U.S. dollars. The stablecoin is backed primarily by cash reserves and is available for institutional use as well as SoFi members. Merchants do not need to hold stablecoins or build new infrastructure; through the Big Business Banking platform, merchants can receive settlement funds directly into a SoFi Bank account and withdraw cash 24 hours a day.

SoFi is also exploring additional uses for SoFiUSD with Mastercard, including cross-border payments and remittances. In addition, the firm is in discussions about stablecoin settlement with large U.S. merchants, ranging from multinational retailers to technology platforms.