The SoFi USD Shock (6) — The Day We Converge Toward “Bank-Issued Stablecoins”
*This is a continuation from the previous installment.
In November 2025, SoFi relaunched its crypto asset trading service “SoFi Crypto”. Additionally, it will launch an international remittance service within the year. These are meticulously crafted strategic approaches toward the issuance of the stablecoin “SoFi USD,” scheduled for January 2026.
<Forcing the Circulation of SoFi USD>
“SoFi Crypto” will have liquidity providers (LPs) provide price quotes to supply liquidity after the service resumes. The key point is that settlements with LPs and exchanges on “SoFi Crypto” are limited to US Dollars (USD) or SoFi USD.
For a bank, using its own liabilities (= deposits from users) as a means of settlement is a fundamental principle of banking law and regulatory accounting. For example, if SoFi were to use USDT/USDC issued by Tether/Circle as a settlement currency, the bank would be assuming the credit risk of another company, which is legally impermissible.
That said, “lessons from the FTX collapse” show that settlement using US Dollars (USD) is far too inefficient.
Furthermore, in recent years, dollar transfers for corporate accounts have become prone to delays due to increased scrutiny, such as re-screening of counterparties, verification of remittance routes, and additional AML (Anti-Money Laundering) checks. In the crypto asset market, where a delay of a few minutes can lead to significant losses, bank transfers are becoming increasingly unacceptable.
Therefore, if the settlement currency used on “SoFi Crypto” is SoFi USD, LPs and exchanges will treat SoFi USD as a “more rational” option than cash.
And, this will also lead to the widespread adoption of SoFi USD.
LPs engage in arbitrage across multiple exchanges. Therefore, expanding the scope of SoFi USD usage to other exchanges (and other services) makes it easier to conduct arbitrage efficiently. In a world where a 1% improvement in capital efficiency is said to result in profit growth on the scale of millions to tens of millions of dollars annually, the unification and expansion of trading currencies is a “strategic necessity.”
This creates a structure where, even without SoFi actively seeking market share itself,
SoFi USD permeates external exchanges through LP-led adoption.
<SoFi USD is a Highest-Quality Stablecoin>
Of course, this strategy only works because SoFi USD is a “
highest-quality stablecoin” that combines the following elements, making it an extremely easy-to-handle settlement currency for LPs and exchanges from every perspective.
・Formally integrated into US banking supervision
・Issuance conditions clearly defined by law
・
Backing assets can be held in an FRB account, resulting in extremely low bankruptcy risk・Extremely high transparency of backing assets (
can be held 100% in cash in an FRB account）・
AML (Anti-Money Laundering) / KYC (Know Your Customer) mandated at the bank level・Handling in the event of bankruptcy and redemption rules clearly defined by banking law
In other words, in a market where USDT/USDC are already the 'standard settlement currencies,' SoFi USD will emerge as a 'superior alternative' to them.
In addition, LPs and exchanges understand that relying on a specific stablecoin concentrates issuer risk, political risk, and regulatory risk. Therefore, given that they already handle multiple stablecoins at all times, it is highly likely that LPs and exchanges will adopt SoFi USD.
To be precise, it is harder to find a reason why it wouldn't be adopted—.
So, what about the technical side of SoFi? Does SoFi possess the technology to integrate smoothly with various exchanges?
The answer is—'a piece of cake.'
<SoFi is also top-tier in technology>
Even though SoFi is a bank, as its name 'SoFi Technologies, Inc.' suggests, it is also a technology company.
Galileo, which SoFi owns, is one of the largest BaaS platforms in the U.S., serving as the 'banking infrastructure' that supports numerous fintech companies such as Chime, Revolut, Dave, and Robinhood.
In addition, SoFi owns another critical foundation, Technisys. Unlike traditional bank core systems, this features a flexible architecture that allows for rapid feature additions and modifications.
Through the combination of Galileo and Technisys, SoFi possesses a platform that balances 'banking reliability' with 'fintech agility.' This unique architecture provides the flexibility to integrate with new payment protocols while remaining a banking foundation.
On top of this foundation, SoFi Pay (the payment infrastructure) has already achieved connectivity with Bitcoin's high-speed settlement layer, the 'Lightning Network,' for international remittances. Incorporating crypto-asset protocols like Lightning into production payment infrastructure is virtually impossible for ordinary banks due to the 'triple wall' of regulation, technology, and risk management.
At this moment, SoFi is the only U.S. bank that has broken through this wall and connected banking infrastructure with crypto-asset protocols at a practical operational level.
Taking all of this into account, it can be said that the technical hurdles for SoFi to connect with external LPs and exchanges and have them treat SoFi USD as a settlement currency are 'extremely low.' SoFi's technical capabilities are also top-tier.
Rather, it is the optimal issuer, where the strengths of a bank and technology are fused.
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SoFi has prepared to step into the massive B2B market with its stablecoin 'SoFi USD' as the centerpiece. From 2026 onwards, SoFi USD will increase its presence as a 'clearing infrastructure' for the crypto-asset market, and SoFi's growth will accelerate dramatically.
This is a historic turning point where the payment model built by USDT/USDC passes the baton to a 'bank-issued stablecoin' for the first time.
Standing at the center of this is—none other than SoFi.
SoFi will unleash its greatest weapon, the stablecoin, into the crypto-asset market, which is the most receptive market of all. 🚀 If you would like to support us, please 'Like' 💙 or follow 🌼, and if you found this article valuable, please also share it on social media 🚨!
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