---
title: "SoFi Expands Bank-Issued SoFiUSD Stablecoin to Polygon's Open Money Stack"
description: "The integration connects SoFi's token to Polygon's payment infrastructure alongside USDC, USDT, and PYUSD, opening direct access to 17 million members."
url: https://basisdesk.news/news/sofi-expands-bank-issued-sofiusd-polygon-open-money-stack
published: 2026-11-12T14:16:51.080Z
modified: 2026-11-12T14:16:51.080Z
section: Stablecoins & Payments
author: Basis Desk Newsroom (AI-generated, source-verified)
sentiment: bullish
tickers: [USDT, USDC, PYUSD, ETH]
tags: [SoFi, Polygon, SoFiUSD, Payments, OCC, Mastercard]
license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice.
---

# SoFi Expands Bank-Issued SoFiUSD Stablecoin to Polygon's Open Money Stack

The integration connects SoFi's token to Polygon's payment infrastructure alongside USDC, USDT, and PYUSD, opening direct access to 17 million members.

## At a glance

- **What happened:** SoFi Bank integrated its OCC-regulated stablecoin SoFiUSD into Polygon's Open Money Stack on Nov. 12, adding support alongside Ethereum and Solana.
- **Why it matters:** Enables 17 million SoFi members to use bank-issued digital dollars on Polygon's corporate settlement rails alongside USDC and PYUSD without standalone crypto wallets.
- **Who is affected:** SoFi app users, Polygon network payment processors, and merchants utilizing Polygon's Open Money Stack infrastructure.
- **Takes effect:** 2026-11-12
- **What's next:** No next step announced.
- **Status:** in-effect
- **Primary source:** [SoFi Brings Its Bank-Issued Stablecoin to Polygon’s Payments Stack](https://decrypt.co/383096/sofi-brings-bank-issued-stablecoin-polygon-payments-stack) — decrypt.co

## Key points

- SoFi expanded its OCC-regulated stablecoin SoFiUSD to Polygon's Open Money Stack alongside Ethereum and Solana.
- More than 17 million SoFi members can buy, hold, and convert SoFiUSD natively in the app without separate wallets or bridging.
- SoFiUSD joins USDC, USDT, and PYUSD on Polygon's payment stack, which supports settlement infrastructure for Stripe, Visa, and Mastercard.

## Editorial remark

- **Context:** SoFiUSD was initially launched late last year on Ethereum and Solana as the first stablecoin issued by a US national bank, already powering internal settlement for SoFi's Mastercard card program alongside products like the 4.40% yield SoFi Earn tokenized deposit.
- **Impact:** More than 17 million SoFi members gain native app-based access to Polygon stablecoin transactions without managing seed phrases, while enterprise merchants on Polygon's stack gain an OCC-regulated banking dollar for settlement.
- **Watch:** Polygon's continued enterprise integration metrics and transaction volume growth across payment processors like Stripe and Mastercard settling with SoFiUSD.

SoFi Bank has deployed its bank-issued stablecoin, SoFiUSD, onto Polygon's Open Money Stack payments layer, Polygon Labs announced on Nov. 12 [1]. The expansion adds the Polygon network alongside Ethereum and Solana, allowing SoFi's base of more than 17 million users to transact, hold, and convert the digital dollar directly within the SoFi mobile application without requiring third-party crypto wallets or manual asset bridging [1].

Issued by SoFi Bank under the regulatory oversight of the Office of the Comptroller of the Currency (OCC), SoFiUSD operates as the first stablecoin issued by a federally chartered US national bank [1]. The token is redeemable one-to-one for US dollars and is classified strictly as a payment stablecoin rather than a bank deposit, meaning it is not insured by the FDIC or SIPC, nor backed by bank guarantees [1]. The instrument already settles SoFi's entire payment card portfolio across Mastercard's network [1].

## Payments Infrastructure and Commercial Rails

The integration links SoFiUSD to a unified commercial stack alongside $USDT, $USDC, and PayPal's $PYUSD, incorporating fiat on- and off-ramps, embedded wallets, and cross-chain settlement modules [1]. This enables corporate users to utilize the bank-issued stablecoin for domestic enterprise payouts, commercial settlement, and cross-border currency transfers [1].

The rollout follows Polygon's broader efforts to capture enterprise payment flow, including a recent initiative where [Polygon Labs deployed Open Money Stack payments tools to Solana](https://basisdesk.news/news/polygon-labs-open-money-stack-solana-payments) [1]. According to Polygon Labs, the network has processed more than $3 trillion in cumulative stablecoin transactions, with commercial integrations currently supported by Visa, Mastercard, and Stripe across more than 150 countries [1]. The integration lands as broader digital asset markets experienced muted action, with $ETH trading at $2,005 at the time of writing.

## Sources

1. [SoFi Brings Its Bank-Issued Stablecoin to Polygon’s Payments Stack](https://decrypt.co/383096/sofi-brings-bank-issued-stablecoin-polygon-payments-stack) — decrypt.co, 2026-11-12

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Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai