New York, March 3, 2026, 15:32 ET — Regular session
SoFi Technologies Inc (SOFI.O) was up about 2% Tuesday afternoon after word broke of a wider Mastercard partnership bringing its U.S. dollar stablecoin onto the card network’s settlement rails. Shares changed hands at $18.76, up 2.0%, after moving between $17.61 and $19.03 earlier.
Fintechs have faced mounting pressure from investors to prove that crypto rails can actually move payments volume, and not just stir up trading buzz. A stablecoin—pegged to the dollar—aims to hold its value, unlike more volatile tokens. As for “settlement,” that’s simply banks squaring up their books once a card transaction goes through.
Mastercard and SoFi have laid out plans to test using SoFiUSD for settling card transactions between issuers and acquirers, zeroing in first on cross-border remittances and B2B payments. Mastercard’s Multi-Token Network—its digital asset platform linking traditional currencies with tokenized assets—will now add SoFiUSD support. “Bringing stablecoin settlement on our network will connect regulated stablecoins with the reliability, security, and reach that consumers expect,” said Sherri Haymond, Mastercard’s global head of digital commercialization. Mastercard
A fresh lift followed a regulatory filing: CEO Anthony Noto bought 56,000 shares on March 2 at a weighted average price of $17.8842 each. With that move, his direct stake now totals 11,675,452 shares, per a Form 4 filing.
SoFi rolled out its SoFiUSD stablecoin, touting full one-to-one cash backing from SoFi Bank and immediate redemption. “At the heart of our strategy to make it faster, cheaper, and safer for people around the world to move money,” CEO Anthony Noto said. The selling point here: nonstop, 24/7 settlement. SoFi
Mastercard shares were up 0.6% during afternoon trading.
SoFi is leaning further into its fee-driven business, aiming to balance out its lending side. The company delivered a strong quarterly profit, helped by steady demand for loans and rising revenue from financial services.
Still, traders want more than just pilot programs; they’re pressing for definite timelines and actual usage. Stablecoin efforts frequently stall when they run into compliance checks, banks’ internal risk limits, and the slow churn of updating settlement processes across sprawling networks.
All eyes now turn to whether SoFi and Mastercard can nail down a clear timeline for issuer and merchant settlement. The clock’s ticking on speed, as well—how quickly will Galileo clients actually transition? SoFi’s next earnings report is slated for April 28 before the bell, though the date isn’t locked in yet, according to Wall Street Horizon.
