Back to news
POLStablecoinsTraditional FinancePolygonBankingDeFi
Adoption
SoFi Launches SoFiUSD Stablecoin on Polygon Network
(5 hours ago) · 1 source · Summarized by CryptoBipto
SoFi has launched its bank-issued stablecoin, SoFiUSD, on the Polygon network. The move expands the availability of the stablecoin beyond its previous blockchain presence. This represents a continued push by traditional financial institutions into the stablecoin space.
WHY IT MATTERS
A stablecoin is a cryptocurrency designed to maintain a steady value, usually pegged to one US dollar.
Read the full analysis with a CryptoBipto membership
Members read why every story matters and the full analysis behind it.
SOURCES
- theblock.co
RELATED
POLStablecoinsTraditional FinancePolygonBankingDeFiLearn the concepts behind this
Clear explanations of the subjects this article touches, with every term defined.
- What are stablecoins, NFTs and tokenized assets?What stablecoins are and how they hold a steady value, what an NFT represents, and what it means to tokenize a real-world asset.
- What is DeFi, and how does decentralized finance work?Decentralized finance explained: liquidity pools, yield farming, impermanent loss, DAOs and governance tokens, each with its own definition page.