SoFi launches bank-issued stablecoin SoFiUSD on Polygon

SoFi has launched SoFiUSD, a bank-issued stablecoin, on the Polygon chain, according to the Ethereum scaling network Polygon (POL). More than 17 million members can buy, sell, hold and convert Polygon-based SoFiUSD directly in the SoFi app. Businesses can also build payment flows using SoFiUSD through the Polygon Open Money Stack.