SoFi Technologies on April 2 launched Big Business Banking, a platform that enables enterprises to hold deposits, move money, and settle transactions in both fiat and digital assets from a single nationally chartered bank. The product integrates SoFiUSD — a fully reserved dollar stablecoin issued...
"To be competitive businesses today must operate in a global, always-on environment 24 hours a day, 7 days a week, while legacy banks typically still operate 9 to 5, Monday to Friday." — Anthony Noto, CEO of SoFi Technologies
SoFi Technologies on April 2 launched Big Business Banking, a platform that enables enterprises to hold deposits, move money, and settle transactions in both fiat and digital assets from a single nationally chartered bank. The product integrates SoFiUSD — a fully reserved dollar stablecoin issued by SoFi Bank, N.A. — with Solana-based settlement infrastructure provided by BitGo. Initial partners include Cumberland, Bullish, BitGo, B2C2, Fireblocks, Wintermute, Galaxy, Jupiter, Mesh Payments, and Mastercard.
The launch follows a separate announcement on April 1 by SBI Holdings' institutional liquidity arm B2C2, which designated Solana as its primary network for routing and settling large-scale stablecoin transactions. Taken together, the two moves mark a structural shift: regulated financial institutions are now choosing public blockchains as default settlement rails, not experimental pilots.
SoFi reported Q4 2025 net revenue of $1.0 billion (up 37% year-over-year), 13.7 million members, and over 20 million total products. The company's 2026 guidance projects adjusted net revenue of $4.655 billion and adjusted EBITDA of $1.6 billion. Its Galileo technology platform, which powers 168 million+ accounts, is expected to offer its payment card clients the option to settle transactions in SoFiUSD.
SoFi Big Business Banking is a unified enterprise platform built on SoFi Bank, N.A., which holds a national bank charter from the Office of the Comptroller of the Currency (OCC) and maintains direct Federal Reserve access. The platform enables businesses to:
The infrastructure runs on Solana, the same blockchain SoFi uses for its consumer crypto product. According to the April 2 BusinessWire announcement, the platform provides "real-time, API-driven payments with 24/7/365 money movement and settlement."
The distinction from existing crypto-bank hybrids is regulatory standing. SoFi Bank is an OCC-regulated insured depository institution. Deposits are FDIC-insured up to applicable limits. The bank's reserves for SoFiUSD are held in cash at its Federal Reserve account, carrying what SoFi describes as "zero liquidity risk or credit risk."
Ten initial partners signed on for the launch: Cumberland, Bullish, BitGo, B2C2, Fireblocks, Wintermute, Galaxy, Jupiter, Mesh Payments, and Mastercard. These span market makers, custodians, trading firms, and a global card network — a cross-section of infrastructure that suggests SoFi is targeting the full settlement stack, not a single use case.
SoFiUSD was first announced in December 2025 and positions itself as the first stablecoin issued by a U.S. nationally chartered bank on a public, permissionless blockchain. BitGo, also an OCC-regulated institution, provides the Stablecoin-as-a-Service infrastructure.
Key operational parameters, per BitGo and SoFi disclosures:
The regulatory distinction matters. Circle's USDC and Tether's USDT are issued by non-bank entities. JPMorgan's JPM Coin operates on a private, permissioned ledger. SoFiUSD occupies a different position: bank-issued, OCC-regulated, FDIC-insured institution backing, on a public chain. This positions it under the GENIUS Act framework, which provides a regulatory path for bank-issued stablecoins with reserve requirements.
SoFi's technology subsidiary Galileo — which powers accounts for Chime, Robinhood, Varo, KOHO, and Monzo — is expected to be among the first to offer its payment card clients and their issuing banks the choice to settle transactions in SoFiUSD. Galileo currently supports 168 million+ enabled accounts. If even a fraction of those flows route through SoFiUSD, the supply could scale rapidly.
On April 1, B2C2 — the institutional liquidity provider majority-owned by Japan's SBI Holdings — announced that Solana would serve as its primary network for institutional stablecoin settlement. B2C2 Group CEO Thomas Restout stated: "We're supporting real flow here because it delivers on the things that matter to our clients — speed, reliability and scale."
B2C2 will support Solana-based versions of USDC, USDT, PYUSD, USDG, USD1, EURC, and FDUSD. The firm serves institutional clients including Robinhood, Standard Chartered, Anchorage Digital, and Bitget.
The decision is notable for two reasons. First, B2C2's existing PENNY platform — a zero-fee stablecoin swap solution for banks launched in 2025 — optimizes FX, treasury management, and cross-border payments. Routing this through Solana adds a high-throughput execution layer. Second, SBI Holdings is one of Japan's largest financial conglomerates. The choice of a public blockchain over private infrastructure signals a preference for open settlement rails among regulated Asian financial institutions.
Solana processed over 10 billion transactions in Q1 2026 alone, according to network data. Average block times remain under 400 milliseconds, with transaction costs in the sub-cent range — economics that make it viable for high-frequency institutional settlement where Ethereum mainnet fees would erode margins.
On March 3, SoFi and Mastercard announced a partnership to enable SoFiUSD as a settlement option across Mastercard's global payments network. The integration has two components:
Issuer/acquirer settlement: Card-based transactions processed through the Mastercard network can be settled using SoFiUSD instead of traditional correspondent banking rails. SoFi Bank will settle its own Mastercard-branded credit and debit transactions in SoFiUSD.
Multi-Token Network: SoFiUSD will be supported across the Mastercard Multi-Token Network, which is designed to support interoperability across fiat currencies, stablecoins, and tokenized deposits.
The implications are quantifiable. Mastercard processed $9.0 trillion in gross dollar volume in 2025. Even a 0.1% shift to stablecoin settlement would represent $9 billion in flow routed through SoFiUSD rails. Settlement speed would improve from T+1 or T+2 (typical for card networks) to near-instant finality on Solana.
Use cases identified in the announcement include cross-border remittances and B2B money transfers — segments where traditional settlement carries the highest friction and cost.
SoFi's entry arrives in a rapidly developing bank-stablecoin market:
| Issuer | Token | Blockchain | Regulatory Status | Settlement Type | |--------|-------|-----------|------------------|----------------| | SoFi Bank, N.A. | SoFiUSD | Solana (public) | OCC national bank charter | Public chain | | JPMorgan Chase | JPM Coin / Kinexys | Private (Onyx) | National bank | Private ledger | | Société Générale | EUR CoinVertible | Ethereum | French ACPR-regulated | Public chain | | Citi | Planned (via Coinbase) | TBD | National bank | TBD | | PNC | Planned (via Coinbase) | TBD | National bank | TBD |
JPMorgan's Kinexys (formerly JPM Coin) processes approximately $2 billion in daily settlements but operates on a private, permissioned ledger accessible only to JPMorgan clients. SoFi's approach differs by using public infrastructure, which allows any counterparty with a Solana wallet to interact with SoFiUSD without requiring a JPMorgan banking relationship.
Citi and PNC have announced stablecoin plans through Coinbase's crypto-as-a-service arm, but neither has disclosed a launch date or blockchain choice. The OCC's March 2025 interpretive letter permitting national banks to offer crypto services cleared the regulatory path that SoFi is now executing against.
The convergence of SoFi's Big Business Banking, B2C2's Solana designation, and the Mastercard partnership restructures the value chain for institutional settlement:
Cost compression. Traditional wire transfers cost $15-50 per transaction with T+1 settlement. Solana-based stablecoin transfers cost under $0.01 with sub-second finality. For a market maker executing thousands of daily settlements, the annual savings are material.
Counterparty risk reduction. SoFiUSD reserves held at the Federal Reserve eliminate the credit risk embedded in correspondent banking chains. Each intermediary in traditional settlement adds counterparty exposure. On-chain settlement collapses this to a single trust assumption: the issuing bank.
24/7 operations. Traditional banking settles Monday through Friday, 9-5 ET. Crypto markets trade continuously. SoFi's 24/7/365 settlement closes the gap that has forced crypto-native firms to maintain large cash buffers to bridge weekend and holiday settlement gaps.
Regulatory moat. The combination of a national bank charter, FDIC insurance, Federal Reserve access, and OCC supervision creates a compliance framework that non-bank stablecoin issuers cannot replicate. Under the GENIUS Act framework, bank-issued stablecoins receive preferential regulatory treatment — a structural advantage that compounds as compliance requirements tighten.
However, risks remain. SoFiUSD's current circulating supply and adoption metrics are not yet publicly disclosed. Solana experienced multiple network outages in 2022-2023, though uptime has stabilized since. The Drift Protocol exploit on April 1 — draining $285 million from a Solana-based DeFi protocol — demonstrates that the network's security model still faces attack surface challenges, even if the SoFi-Solana integration operates at a different layer of the stack.
SoFi's Big Business Banking launch and B2C2's Solana designation represent the same underlying thesis: regulated financial institutions are moving settlement onto public blockchains not as experiments, but as primary infrastructure. The economics are straightforward — sub-cent transaction costs, sub-second finality, and 24/7 availability versus $15-50 wire fees, T+1 settlement, and business-hours-only access.
The question is no longer whether banks will use public blockchains for settlement. It is how quickly volume migrates. SoFi's national bank charter, Federal Reserve access, Mastercard integration, and Galileo distribution network give it structural advantages that most competitors — both crypto-native and traditional — cannot easily replicate.
What remains to be seen is whether SoFiUSD achieves meaningful circulating supply and whether Solana's infrastructure holds under institutional-grade transaction volumes. The data will become clearer when SoFi reports Q1 2026 earnings, expected in late April.