SoFi launches stablecoin card settlement on Mastercard, projecting over $25 billion a year
SoFi has started using stablecoin settlement on Mastercard for debit and credit card transactions between institutions. The arrangement keeps merchants and cardholders on existing payment systems while SoFi projects more than $25 billion a year in transaction volume.
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Users and merchants notice this in the payment flow, because card spending can still run through the same systems while settlement moves behind the scenes between institutions. That means day-to-day card use stays familiar even as the settlement method changes for the parties handling the transfer. (per tokenpost.com)
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Has this happened before?
| When | What happened | Figure |
|---|---|---|
| 21 days ago | CFTC advances crypto regulations; SoFi, Mastercard launch stablecoin settlement event | 1 actors in common · 2 news media |
| 24 days ago | SoFi begins stablecoin settlement on Mastercard network for program expected to exceed $25 billion in annualized volume event | 1 actors in common · 4 news media |