Back

SoFi to Launch SoFiUSD Stablecoin on Solana

SoFi Technologies said SoFiUSD, first launched on Ethereum in 2025, will expand to Solana to support lower-cost, faster settlement for banks, fintechs and enterprises.

ETH
SOL

Fact Check
The claim is strongly corroborated by multiple independent, high-quality sources. The Block (a leading crypto news outlet) reported the story on May 5, 2026, with direct attribution to SoFi's Ben Reynolds. The official @solana X account independently confirmed the announcement on the same date, quoting Reynolds directly. This is consistent with the established history of SoFiUSD: it launched on Ethereum in December 2025 (per CoinDesk and Yahoo Finance), SoFi expanded its Mastercard partnership for SoFiUSD settlement in early 2026, and SoFi's April 2026 Big Business Banking launch already referenced Solana integration. There are no conflicting sources. The convergence of an official Solana channel post, a credible crypto news outlet report, and a coherent prior timeline makes the claim highly credible.
Summary

SoFi Technologies said its fully reserved U.S. dollar stablecoin, SoFiUSD, will expand to Solana, citing the network’s low costs, high throughput and fast settlement. The company said SoFiUSD originally launched on Ethereum in 2025 and is intended to support 24/7 near real-time settlement for banks, fintechs and enterprises. The new information clarifies that SoFiUSD is already live on Ethereum and that the Solana move is an expansion rather than an initial launch of the stablecoin.

Terms & Concepts
  • Stablecoin: A cryptocurrency designed to maintain a stable value, often by being backed by reserves tied to a fiat currency such as the U.S. dollar.
  • Solana: A public blockchain network known for relatively low transaction costs, high throughput and fast settlement.
  • Ethereum: A public blockchain that supports digital assets and on-chain applications, including the issuance of stablecoins.