World & BusinessSoFi and Mastercard reportedly move card settlement onto public blockchains
A user claims SoFi is migrating its entire debit and credit card program, representing over $25 billion in annualized volume, to settlement using its SoFiUSD token on Mastercard's network.
TLDR
A post claims SoFi and Mastercard have moved stablecoin settlement from a pilot into production, with SoFi migrating its entire debit and credit card program to blockchain-based settlement using SoFiUSD. The author puts the program's annualized volume at over $25 billion and claims merchants can receive instant, 24/7 fiat settlement without handling crypto or rebuilding their payment systems.
