According to the source, SoFi Technologies said it will soon offer its own stablecoin on Ethereum, following the company’s re-entry into crypto last month. According to the source, the issuance on Ethereum means the token will operate as an ERC-20 asset with on-chain settlement on the ETH network. According to the source, this positioning makes Ethereum-based venues the primary rails for initial liquidity and pricing once the stablecoin goes live, a focal point for traders monitoring ETH pairs and stablecoin order books.

According to @StockMKTNewz, SoFi announced the launch of SoFiUSD, a fully reserved U.S. dollar stablecoin issued by SoFi Bank, N.A. (source: @StockMKTNewz on X). The company states SoFiUSD will enable $SOFI to serve as a stablecoin infrastructure provider for banks, fintechs, and enterprise platforms (source: @StockMKTNewz on X).

According to the source, SoFi announced an Ethereum-based stablecoin intended for trading and payments on the Ethereum network (source: user-provided announcement). The post did not disclose a ticker, peg and reserve details, auditor, or mint/redeem terms, leaving critical trading parameters such as liquidity, on-chain transfer costs, and potential exchange listings to be confirmed via official documentation (source: user-provided announcement).