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SoFi Technologies, a publicly traded US neobank, has made SoFiUSD available inside its banking app for 14.7 million members, the company said in a press release published Wednesda.
Members can now buy, sell, hold, and convert SoFiUSD directly within the SoFi app. Full availability is expected by early June as users update to the latest version.
SoFiUSD arrives at a moment when stablecoins have moved firmly into mainstream finance. The total stablecoin market supply has crossed $320 billion, with USDT holding roughly 58% market dominance at a $185 billion market cap, according to DefiLlama data.
