SoFi begins stablecoin settlement on Mastercard network for program expected to exceed $25 billion in annualized volume

Cardholders and merchants using SoFi’s debit and credit cards are the first to notice this change, because the program is now live on Mastercard’s global payments network. The shift is visible in day-to-day payment settlement rather than in the amount of SoFiUSD held by customers, since the $25 billion figure is tied to expected card-processing volume.

In practice, the card program is now settled with SoFiUSD on Mastercard’s network instead of remaining at the stage of the March agreement. What remains the same is that the publicly cited $25 billion figure is about annualized processing volume, not direct consumer stablecoin use or circulation.

What is still not known from these pieces is how much SoFiUSD will move in ordinary use once the program runs live or how the settlement activity will evolve from here. A fuller view would require later data on transaction volume and the scope of the rollout beyond the card program described here. (per cointelegraph.com)

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