SoFi Bank launched SoFiUSD on Ethereum and Solana, becoming the first US nationally chartered bank to issue a stablecoin for its nearly 15 million members.

The fintech platform says its dollar-backed stablecoin will let members trade, transfer and eventually earn yield through its banking app.

SoFi launches SoFiUSD, the first US bank-issued stablecoin on public blockchains, to 14.7M app users on Ethereum and Solana with Mastercard integration.