United States-based neobank SoFi and Mastercard announced a strategic partnership to use the bank’s stablecoin, SoFiUSD, in Mastercard's global payments network.
Per a press release today, March 3, SoFiUSD will be integrated as a settlement option across Mastercard’s network, and is expected to simplify the settlement process for card issuers and acquirers.
The stablecoin will also be used across Mastercard’s digital asset platform, the Mastercard Multi-Token Network (MTN), according to the release
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