Mastercard and SoFi Move $25 Billion Card Program to Blockchain Settlement

Mastercard and SoFi Move $25 Billion Card Program to Blockchain Settlement
SoFi Technologies has officially migrated its entire debit and credit card program—projected to process over $25 billion in annualized volume—onto blockchain-based settlement across Mastercard's global network.
Under the rollout, transactions are settled using SoFiUSD, making it the first stablecoin issued by a nationally chartered U.S. bank to be integrated directly into live payment infrastructure.
Key operational details of the launch include:
• Seamless Merchant Experience: Businesses do not need to hold stablecoins or deploy separate blockchain infrastructure.
• 24/7 Liquidity: Merchants can receive funds instantly through SoFi Bank's platform and withdraw cash around the clock without traditional banking hour restrictions.
• Broader Roadmap: SoFi and Mastercard are currently exploring further applications for the stablecoin, including cross-border payments, remittances, and direct arrangements with major retailers.