SoFi Technologies has launched SoFiUSD, a bank-issued, U.S. dollar-backed stablecoin that members can now buy, sell, hold and convert directly in the SoFi app. The move expands SoFi’s crypto and payments product set and reflects continued fintech product innovation. The news is positive for SoFi strategically, but the immediate market impact is likely limited.
SoFi Technologies has launched SoFiUSD, a bank-issued, U.S. dollar-backed stablecoin that members can now buy, sell, hold and convert directly in the SoFi app. The move expands SoFi’s crypto and payments product set and reflects continued fintech product innovation. The news is positive for SoFi strategically, but the immediate market impact is likely limited.
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mildly positive
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