PANews reported on May 27th that, according to The Block, SoFi Technologies announced that its USD-pegged stablecoin, SoFiUSD, is now available to its 14.7 million members. Users can directly buy, sell, hold, and convert within the SoFi app. This is the first stablecoin product issued by a national US bank and embedded in a retail banking interface. SoFiUSD currently runs on Ethereum and Solana, and will later integrate with tokenized deposits (with FDIC insurance), cross-border transfers, and the Bullish exchange. SoFi stated that it plans to integrate regulated banking infrastructure and on-chain settlement channels into a single consumer-grade interface through this product. In the future, it will also support banks, fintech companies, and enterprise partners in issuing white-label stablecoins or integrating SoFiUSD into their payment and settlement systems. SoFi has already partnered with Mastercard to use SoFiUSD as the settlement currency for its global network.