SoFi integrates its stablecoin SoFiUSD into the Polygon network.

Fintech company SoFi has integrated its stablecoin, SoFiUSD, into the Polygon Open Money Stack. This stablecoin is the first issued by a national U.S. bank and already runs on Ethereum and Solana. Over 17 million SoFi users can buy, sell, hold, and exchange SoFiUSD through the SoFi app without needing a separate crypto wallet or manual cross-chain transactions. SoFiUSD is pegged 1-1 to the US dollar and issued by SoFi Bank, which is regulated by the U.S. Office of the Comptroller of the Currency. It is used to settle all SoFi Mastercard card transactions. This stablecoin is not a bank deposit, nor is it insured by the FDIC or SIPC, nor is it guaranteed by a bank or legal tender. (Source: Decrypt)