SoFiUSD Adds Polygon for In-App Access on a Third Blockchain

SoFi Bank’s SoFiUSD (SOFID) stablecoin is now available to members on Polygon, expanding the in-app dollar token to a third blockchain after Ethereum and Solana without requiring an external wallet. Polygon Labs announced the deployment Thursday.

SoFi members can buy, sell, hold and convert the token in the app. They do not need a separate crypto wallet or have to transfer SoFiUSD manually between networks. SoFi opened app access on Ethereum and Solana in May, after launching the token in December 2025 for settlement among banks, fintech companies and enterprise partners.

On Polygon, SoFiUSD joins the network’s Open Money Stack, a payments layer that lets banks and fintechs connect customer accounts to stablecoins and local currencies. The expansion builds on SoFiUSD’s existing conversion and in-app use.

SoFiUSD can be redeemed one-for-one for U.S. dollars. It is not a bank deposit and does not carry insurance from the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation.