SoFi Officially Opens Its Own Stablecoin to 15 Million Users
U.S. digital bank SoFi has officially opened its own cryptocurrency stablecoin service to its 15 million users.
Users can now directly use, trade, and hold the stablecoin on the SoFi platform, supporting daily payments, transfers, and investment scenarios.
This move marks the acceleration of traditional banks in the stablecoin business, with SoFi becoming one of the early institutions among mainstream U.S. banks to launch its own stablecoin.
Source: Public Information
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SoFi has previously made significant investments in cryptocurrency trading, stocks, and banking services. The launch of its own stablecoin continues its transformation from a digital bank to a comprehensive financial super app, aiming to keep user funds within the platform to create a closed loop.
In terms of capital strategy, SoFi is leveraging its large user base and banking license advantages to shift funds from traditional deposits to the stablecoin ecosystem, while paving the way for future payment, lending, and RWA (Real World Asset) businesses. The motivation is to enhance user stickiness and fee income through the stablecoin.
Similar to attempts by traditional banks like JPMorgan and Societe Generale to issue stablecoins, SoFi is currently in the expansion phase of traditional banks moving from passive support of cryptocurrency to actively issuing stablecoins.
Essentially, this represents a restructuring of the industry chain: traditional banks issuing their own stablecoins deeply binds user funds to on-chain activities. The mechanism relies on compliance licenses to reduce regulatory risks, accelerating the shift of capital from traditional bank deposits to programmable stablecoins, and promoting the evolution of financial services from isolated accounts to unified on-chain financial infrastructure.
ABAB News · Cognitive Law
15 million users is not the endpoint, but the true starting point for the stablecoin's implementation.
If traditional banks do not engage in stablecoins, they can only watch funds flow to others.
Whoever first transforms user accounts into on-chain wallets will control the next generation of payment gateways.