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Stock impact report

SoFi to test SoFiUSD stablecoin settlement across Mastercard network [Yahoo! Finance]

Mastercard Incorporated (MA) 
Last mastercard incorporated earnings: 4/29 08:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
SoFiUSD is SoFi's fully reserved US dollar stablecoin. According to the company, it is the first stablecoin offered by a US nationally chartered and insured deposit bank on a public, permissionless blockchain. Under the partnership, SoFi and Mastercard will examine how issuers and acquirers can settle card-based transactions with Mastercard using SoFiUSD. The partnership intends to support faster settlement options for Mastercard customers. It also targets use cases including cross-border remittances and B2B money transfers. Galileo, SoFi's technology platform, is expected to be among the first to offer its payment card clients and their issuing banks the option to settle transactions in SoFiUSD. SoFiUSD is also expected to be supported across the Mastercard Multi-Token Network (MTN), Mastercard's digital asset platform designed to connect traditional money with digital assets. The integration is intended to improve interoperability across fiat currencies, stablecoins, and to Show less Read more
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