SoFiUSD
SOFID
$0.999891
Current Price
+0.03%
24h Change
Info
SOFID
Symbol
$323.96M
Fully Diluted Valuation
$323.96M
Market Cap
130
Market Rank
324.00M
Total Supply
$7.87M
Total Volume
$0.999853
24h High
$0.998016
24h Low
About SoFiUSD
SoFiUSD (sofid) is a fully collateralized U.S. dollar stablecoin introduced by SoFi Bank, N.A., marking a pioneering move as the first national bank to deploy a stablecoin on a public, permissionless blockchain. This digital asset addresses the need for a stable, reliable digital currency by maintaining a 1:1 backing with cash reserves held in the bank’s federal account, which ensures immediate redemption capabilities and significantly reduces both liquidity and credit risks. The primary mission of SoFiUSD is to facilitate seamless financial transactions, making it a vital tool for both individuals and enterprises seeking stable value transfer in the digital economy. Technologically, SoFiUSD empowers a versatile ecosystem by providing its stablecoin infrastructure to banks, fintech companies, and enterprises. This enables these entities to incorporate SoFiUSD into their settlement processes or create customized stablecoin solutions using SoFi’s comprehensive regulatory, operational, and reserve framework. The project’s integration into decentralized finance (DeFi) platforms and its appeal to developers highlight its strategic market position, driven by strong adoption metrics and strategic partnerships, positioning SoFiUSD as a key player in the evolution of digital financial systems.
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FAQ
Information on this page is provided for informational purposes only and does not constitute investment advice. This is not a recommendation to buy or sell any digital asset or to employ any particular investment strategy. Backpack makes no representation as to the accuracy, suitability, or validity of the information provided.
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