SoFi’s Bank-Issued Stablecoin SoFiUSD Goes Live on Polygon, Its Third Blockchain

SoFiUSD is a bank-issued dollar stablecoin tied to SoFi Bank, and its expansion to Polygon comes after earlier deployments on Ethereum and Solana. Polygon’s Open Money Stack is the payments layer named in the rollout, and the token is being positioned inside SoFi’s own app rather than only through external crypto tools. That places a regulated banking product directly into a blockchain payments environment that already includes multiple networks.

For SoFi users, the new setup means they can handle SoFiUSD on Polygon from inside the SoFi app, with no separate wallet and no token bridging between chains. That lowers the number of steps needed to move the stablecoin across the supported networks and keeps more of the user flow inside SoFi’s interface. It also makes the bank itself more central to how the token is accessed and used.

A U.S. national bank offering its own stablecoin across several blockchains sits at the point where banking rails and crypto rails meet. Supporters of this model want faster settlement and simpler consumer use, while the trade-off is that more payment activity moves into systems controlled by a bank and a blockchain stack. Polygon’s role shows how stablecoin distribution is increasingly tied to specific infrastructure choices rather than a single neutral network.

What is still unclear is how widely SoFiUSD will be used on Polygon compared with its earlier Ethereum and Solana versions. The release does not set out transaction volumes, fee terms, or whether the same app-based access will apply in every future market. Those details would show how much of SoFi’s payments activity is shifting onto Polygon and how the product will be handled over time.

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