TREE NEWS update: SoFiUSD, the first stablecoin issued by a U.S. national bank, is now live on Polygon’s Open Money Stack, adding to its existing deployments on Ethereum and Solana. The bank-issued dollar token expands SoFi’s stablecoin reach to a third blockchain payments stack.
SoFiUSD Stablecoin Goes Live on Polygon Open Money Stack
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AI take
A bank-issued stablecoin arriving on a payments-focused stack is a meaningful signal for the tokenization thesis: regulated issuers are now choosing where their dollars live rather than defaulting to a single chain. The move matters most for payment rails and infrastructure providers competing to host compliant dollar liquidity, and for Polygon's positioning against Ethereum and Solana, where SoFiUSD already runs. Whether multi-chain deployment becomes the norm for bank tokens, or issuers consolidate around one stack, is the open question worth watching.
Generated by AI for reference only.
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