Crypto

SoFiUSD stablecoin goes live on Polygon, its third blockchain

SoFi's bank-issued stablecoin, SoFiUSD, is now live on Polygon, its third blockchain. SoFi customers can buy, hold and convert the token there through the SoFi app.

Illustration: An isometric scene of a phone with a plain coin on screen, a card terminal and a small shop counter.
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SoFiUSD, a stablecoin issued by a bank linked to SoFi, is now live on Polygon. Polygon is a blockchain network that SoFi has added to its payments setup.

Polygon Labs said SoFi members can now buy, hold and convert the token on Polygon inside the SoFi app. The app already supported SoFiUSD on Ethereum and Solana, so Polygon is the third chain for the token.

Background

A stablecoin is a digital token designed to hold a steady value, usually tied to a currency such as the dollar.

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