SoFi Bank’s USD‑pegged stablecoin, SoFiUSD, has been added to Polygon’s Open Money Stack, making Polygon the third network to support the token after its earlier launches on Ethereum and Solana. The integration allows SoFi’s more than 17 million members to transact with the stablecoin inside the SoFi app without needing a separate crypto wallet or manual bridging, according to a press release from Polygon Labs.

How the Polygon integration works

Polygon’s Open Money Stack bundles fiat on‑ and off‑ramps, embedded wallets and cross‑chain settlement into a single integration. By plugging SoFiUSD into this stack, the stablecoin can be bought, sold, held and converted on Polygon directly from the SoFi app, mirroring the experience already available on Ethereum and Solana. The move aligns with Polygon’s strategy to become a payments‑focused layer‑2 solution, joining other major stablecoins such as USDC, USDT and PayPal’s PYUSD on the same infrastructure.

Regulatory backdrop and token characteristics

SoFiUSD is issued by SoFi Bank, N.A., a U.S. national bank supervised by the Office of the Comptroller of the Currency (OCC). The token is redeemable one‑for‑one for U.S. dollars but is not a bank deposit and carries no FDIC or SIPC insurance, as noted in the release. SoFi launched the stablecoin in December 2025, initially for settlement use by banks and fintech partners, and opened it to members in May 2026 on Ethereum and Solana.

What to watch next

The expansion places SoFiUSD alongside other high‑volume stablecoins on a payments layer already used by Visa, Mastercard and Stripe. Observers will monitor how quickly businesses adopt the token for payouts, cross‑border transfers and card‑settlement use cases, and whether additional blockchains will be added to the SoFiUSD ecosystem in the coming months.

FAQ

What is the Open Money Stack?

Polygon’s Open Money Stack is a payments layer that combines fiat on‑ and off‑ramps, embedded wallets and cross‑chain settlement for stablecoins.

Is SoFiUSD insured by the FDIC?