US Stock Market Move | Entering the stablecoin race, Sofi Technologies (SOFI.US) surged over 5%.

On Thursday, the stock price of Sofi Technologies (SOFI.US) rose, as of the time of writing, the stock rose by over 5%, reaching $26.6. On the news side, the company officially entered the stablecoin race, announcing the launch of SoFiUSD, a stablecoin fully backed by the US dollar, further accelerating its layout in the field of digital assets and payment infrastructure. According to reports, SoFiUSD is issued by SoFi Bank, N.A. and is backed in cash on a 1:1 basis, supporting instant redemption. As a bank chartered by the United States and insured for deposits, SoFi can directly deposit stablecoin reserves into its federal bank account, thereby eliminating liquidity and credit risks, while also generating income and sharing incentives with partners and SoFiUSD holders. SoFi stated that with the launch of SoFiUSD, the company has become the first US national bank to issue stablecoins on a public, permissionless blockchain. The company pointed out that SoFiUSD will transform it into a stablecoin infrastructure provider, serving banks, fintech companies, and enterprise platforms, helping these institutions achieve faster and more efficient fund transfers and settlements by relying on SoFi's "bank-grade" infrastructure. Currently, SoFiUSD has begun to be used for internal settlements within SoFi, and is expected to be opened to more members in the coming months. This stablecoin will not only be used for SoFi's own cryptocurrency trade settlements, but also plans to support bank card networks, retailers, and other enterprises' payment and settlement needs, providing a safer, 24/7, low-cost transaction solution. The stablecoin market is still dominated by Tether's USDT and Circle's USDC, but traditional Financial Institutions, Inc. and fintech companies are accelerating their entry. PayPal (PYPL.US) launched its stablecoin PYUSD in 2023, and Stripe launched a subscription payment service based on stablecoins in October 2025. This week, Visa (V.US) also announced the launch of USDC settlements in the United States, marking a key step in its stablecoin settlement pilot project.