Mastercard adds SoFiUSD as settlement option for card issuers

CoinTelegraph

by Nate Kostar

March 3, 2026

AI-Generated Deep Dive Summary

Mastercard has announced a partnership with SoFi Technologies to enable transactions on its global network using the cash-backed SoFiUSD stablecoin. This collaboration allows card issuers and acquirers to settle Mastercard credit and debit transactions directly through SoFiUSD, marking a significant step in integrating blockchain technology into traditional payment systems. SoFi Bank N.A., a U.S.-chartered and insured deposit bank, will use SoFiUSD for its own Mastercard transactions, while SoFi’s Galileo platform will provide other banks and issuers with the option to utilize the stablecoin for settlements across Mastercard’s network. SoFiUSD stands out as the first dollar-backed stablecoin issued by a U.S. bank on a public, permissionless blockchain. This innovation enables real-time transaction settlement 24 hours a day, seven days a week, enhancing speed and efficiency in global payments. The integration of SoFiUSD with Mastercard’s network not only streamlines payment processes but also bridges the gap between traditional banking systems and decentralized finance (DeFi). By leveraging blockchain technology, this partnership offers a more secure and transparent alternative to conventional settlement methods. This move by Mastercard highlights its

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Originally published on CoinTelegraph on 3/3/2026