SoFi to issue its stablecoin on Solana network

U.S. fintech platform SoFi (SOFI) announced it will issue its stablecoin on the Solana network, citing speed and cost savings. According to The Block, SoFi explained that Solana was chosen for its cost-effectiveness, settlement speed, and overall throughput. In December 2025, SoFi launched SoFiUSD, the first stablecoin issued by U.S. national bank SoFi Bank and backed by Federal Reserve cash.