SoFi begins settling Mastercard card transactions with SoFiUSD

U.S. bank SoFi Bank has begun settling card transactions on Mastercard’s global payments network using its in-house stablecoin, SoFiUSD, Crypto Briefing reported. Since Sept. 22, SoFi has been settling debit and credit card program transactions in SoFiUSD and expects the program’s annual processing volume to exceed $25 billion.