PANews reported on May 6th that, according to The Block, SoFi Technologies announced the launch of its stablecoin, SoFiUSD, on Solana. Ben Reynolds, Head of Corporate Banking at SoFi, stated that Solana is well-suited for payment scenarios in terms of cost, settlement speed, and throughput. SoFiUSD is scheduled to launch in December 2025, initially deployed on Ethereum, with plans to expand to more networks in the future. Last month, SoFi extended its partnership with Mastercard, positioning SoFiUSD as the settlement currency for its global payments network.