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25 billion in card volume settling on their own stablecoin and the Mastercard part is what makes it real. payments rails, not treasury cosplay.
First mover only counts if fees drop for cardholders. Otherwise it is just SoFi keeping the interchange margin in-house. Still a W though.
a 25 billion dollar card program moving onto an in house stablecoin is way bigger than it sounds. mastercard being the rail here hands every other issuer a free proof of concept
the bank charter bit is the key detail, thats what separates this from another fintech stablecoin pilot press release
First mover among card issuers, and SoFi has the bank charter to actually settle this way. Everyone else copies this within two years, watch.
sofi quietly shipping what others only whiteboard about. respect
quietly is the word. no token, no airdrop teaser, just plumbing. weirdly bullish for the sector actually
25 billion on their own stablecoin through mastercard. way past pilot stage, this is SoFi telling everyone interchange fees are now optional
regulation actually paying off for once. the stablecoin rules made this legal and now the big fintechs are sprinting while banks file comment letters
sofi tokenized their rewards program first and nobody batted an eye, now this. noto keeps quietly shipping while the industry argues on twitter