SoFi Bank and Mastercard have activated SoFiUSD settlement across SoFi’s debit and credit card program, which is expected to process more than $25 billion in annualized volume. The companies said the rollout is the first time a U.S. national bank has gone live with stablecoin settlement across Mastercard’s network, months after announcing their partnership in March. SoFiUSD is issued by OCC-regulated SoFi Bank, redeemable one-to-one for U.S. dollars and backed primarily by cash reserves. Merchants do not need to hold stablecoins, build new infrastructure or change their operations; through SoFi’s Big Business Banking platform, they can receive settlement funds instantly in a SoFi Bank account and withdraw cash around the clock at zero cost. SoFi is discussing the service with large U.S. merchants and plans to explore cross-border payments and remittances with Mastercard. SoFi shares rose as much as 4.83% during Tuesday’s session, while analysts maintained a Hold consensus and an average 12-month price target of $20.67. The next estimated earnings report is scheduled for October 27, 2026.