SoFi has introduced its stablecoin, SoFiUSD, to nearly 15 million users of its banking app, marking it as the first U.S. national bank to offer a bank-issued stablecoin on public blockchains. SoFiUSD, backed 1:1 by U.S. dollars, is available on Ethereum and Solana, allowing users to buy, sell, hold, and convert the token within SoFi's platform. This launch positions SoFi to compete with crypto-native issuers like Tether and Circle by leveraging its status as a nationally chartered bank to offer enhanced trust and regulatory oversight. CEO Anthony Noto highlighted the integration of blockchain technology with regulated banking, eliminating the need for users to choose between the two. SoFi plans to expand SoFiUSD's functionality with features like tokenized deposits and 24/7 cross-border transfers, aiming for full availability by early June.