SoFi Brings Its Bank-Issued Stablecoin to Polygon’s Payments Stack

In brief

• SoFi expanded SoFiUSD—the first stablecoin issued by a U.S. national bank—to Polygon’s Open Money Stack, adding Polygon alongside Ethereum and Solana.
• The move pushes SoFiUSD further into payments infrastructure, joining USDC, USDT and PYUSD on a stack Visa, Mastercard and Stripe already use.
• It builds on SoFi’s digital-money push, from the SoFiUSD launch to its SoFi Earn tokenized deposit, and Polygon’s $3 trillion-plus stablecoin payments business.

SoFi is widening the reach of its digital dollar, bringing SoFiUSD, the first stablecoin issued by a U.S. national bank, onto Polygon’s payments infrastructure as banks and fintechs push stablecoins deeper into everyday money movement.

Polygon Labs said Thursday that SoFiUSD is now live on Polygon Open Money Stack, a payments layer that bundles fiat on- and off-ramps, embedded wallets and cross-chain settlement into a single integration.

The move adds Polygon alongside Ethereum and Solana, the networks SoFiUSD already runs on, and lets SoFi’s more than 17 million members buy, sell, hold, and convert the token on Polygon directly in the SoFi app, without opening a separate crypto wallet or manually bridging assets between chains.

“SoFi is well positioned to bring stablecoins into mainstream finance because it combines the regulatory foundation of a national bank with the reach of a major consumer and enterprise technology platform,” said Marc Boiron, CEO of Polygon Labs.