SoFi, Mastercard expand partnership for SoFiUSD global payment support

U.S. fintech platform SoFi (SOFI) has expanded its partnership with Mastercard to enable its dollar stablecoin, SoFiUSD, to be used as a settlement currency across global payment networks, The Block reported. The two companies will explore how card issuers and merchants can use SoFiUSD to settle card transactions, aiming to provide faster payment options for Mastercard customers. SoFiUSD will also be supported on Mastercard's digital asset platform, the Multi-Token Network.