New York, March 3, 2026, 15:32 ET — Regular session
SoFi Technologies Inc (SOFI.O) shares rose about 2% on Tuesday afternoon after the company disclosed an expanded Mastercard tie-up that puts its U.S. dollar stablecoin into the card network’s settlement process. The stock was up 2.0% at $18.76, after trading between $17.61 and $19.03.
The move lands as investors look for concrete ways fintech firms can turn crypto rails into real payments volume, not just trading buzz. A stablecoin is a cryptocurrency designed to hold a steady value, typically by being pegged to the dollar; “settlement” is the behind-the-scenes step where banks square up after card purchases.
Mastercard and SoFi said they will explore letting card issuers and acquirers — the banks on either side of a card transaction — settle card-based payments using SoFiUSD, with early focus on cross-border remittances and business-to-business transfers. Mastercard also said its Multi-Token Network, a digital-asset platform aimed at linking traditional money and tokenized assets, is expected to support SoFiUSD. “Bringing stablecoin settlement on our network will connect regulated stablecoins with the reliability, security, and reach that consumers expect,” Sherri Haymond, Mastercard’s global head of digital commercialization, said. 1
A separate disclosure added to the upbeat tone. A Form 4 filing showed CEO Anthony Noto bought 56,000 shares on March 2 at a weighted average price of $17.8842, lifting his direct stake to 11,675,452 shares. 2
SoFi said SoFiUSD is issued by SoFi Bank and is fully reserved 1:1 by cash for immediate redemption. Noto called the stablecoin “at the heart of our strategy to make it faster, cheaper, and safer for people around the world to move money,” as the company pitched 24/7 settlement as a selling point. 3
Mastercard shares were up 0.6% in afternoon trading.
SoFi has leaned harder on fee-based businesses to balance its lending engine, and it last reported a sharp rise in quarterly profit as loan demand held up and financial-services revenue climbed. 4
Still, traders will want to see timelines and adoption, not just pilots. Stablecoin projects can stall on compliance checks, bank risk limits, and the slow work of changing settlement habits across a big network.
Next up is whether SoFi and Mastercard put a firm rollout schedule around issuer and merchant settlement, and how quickly Galileo clients opt in. Investors are also looking ahead to SoFi’s next earnings window, forecast for April 28 before the open, though Wall Street Horizon lists the date as unconfirmed. 5
