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SoFi will enable Mastercard issuers to settle card transactions in its cash-backed SoFiUSD stablecoin across the global payments network.<\/p>\n
SoFi Technologies has partnered with Mastercard to enable settlement in its dollar-backed stablecoin, SoFiUSD, across Mastercard\u2019s global payments network, allowing issuers and acquirers to settle card transactions using a bank-issued digital dollar.<\/p>\n
Under the agreement, SoFi Bank N.A. plans to settle its own Mastercard credit and debit transactions in SoFiUSD, while SoFi\u2019s payments technology<\/a> platform Galileo will give client banks and card issuers the option to use the stablecoin for transaction settlement across the number two processor\u2019s network.<\/p>\n The company said<\/a> SoFiUSD is the first stablecoin issued by a US nationally chartered and insured deposit bank on a public, permissionless blockchain and would allow transactions to be settled 24 hours a day, seven days a week across Mastercard\u2019s network.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n