Mastercard and SoFi have moved blockchain settlement for SoFi’s debit and credit card program into production, targeting up to $25 billion in annual card-payment volume. The Sept. 22 launch follows a proposal announced in March and leaves the consumer checkout experience unchanged: cardholders can continue using existing cards, while merchants do not need to hold SoFiUSD or modify payment hardware. SoFi describes the program as covering its entire card portfolio, which it annualizes at more than $25 billion, but has not disclosed how much has already settled in the token or when migration will be complete. SoFi says businesses can receive dollars in a SoFi Bank account immediately and convert them to cash around the clock at zero cost. SoFiUSD is issued by nationally chartered SoFi Bank, is intended to be redeemable one-for-one for dollars and is not a deposit or FDIC- or SIPC-insured asset. Galileo is intended to extend the settlement architecture to third-party institutions and merchants. The move places card settlement alongside other 2026 blockchain initiatives, including proposed tokenized U.S. stocks from NYSE and Blockchain.com and MoonPay’s acquisition of SEC-registered NorCap. Its commercial significance will depend on disclosed throughput, participating merchants, supported chains and measured settlement-cost or cash-access improvements.