Mastercard Tests Bank Issued Stablecoin Rail With SoFiUSD Integration
Mastercard and SoFi are expanding their partnership to allow settlement of transactions using SoFiUSD, a stablecoin issued by a U.S. chartered, insured bank. The stablecoin will be used across Mastercard’s global network, marking the first use of this type of bank issued stablecoin for settlement at this scale. For Mastercard (NYSE:MA), this move puts a new payments rail directly inside its existing network at a time when the shares trade around $522.34. The stock’s 3 year return of 54.2%...