SoFi has begun settling card transactions on Mastercard’s network with its SoFi USD stablecoin, Scott Melker said in a Yahoo Finance video. SoFi is migrating its full credit-card program, expected to process more than $25 billion in annualized volume.
Melker described the settlement as live, not a pilot. He said cardholders can use ordinary cards without holding or buying crypto, while merchants are paid as usual; the change is behind-the-scenes settlement infrastructure.
Melker said this arrangement alone may offer little direct investment opportunity to viewers, but argued that wider card use of public blockchains with tokens could make transaction fees relevant to investors.
