SoFi Bank has transitioned its full Mastercard debit and credit card business to settlement using its proprietary SoFiUSD stablecoin, projecting annualized transaction volume above $25 billion. The bank said the deployment is the first by a U.S. national bank across a complete payment network and operates beneath the existing card-payment infrastructure, leaving consumer and merchant processes unchanged. RS2 CEO Radi El Haj said the program has progressed from pilot testing to full operational use across Mastercard's network. SoFi launched SoFiUSD in December 2025, made it available to app users in May and announced its Mastercard partnership in March. The initiative settles obligations between participants in established card networks rather than replacing Mastercard, banks or the customer-facing card experience. Visa is also pursuing stablecoin settlement, reporting in April that its pilot had reached a $7 billion annualized run rate across nine blockchains. Payments specialists have said continuous settlement can reduce delays and capital requirements, particularly for cross-border transactions, although conversion, compliance, integration, stablecoin-management and local-liquidity costs remain considerations.