The digital bank SoFi has started using the stablecoin SoFiUSD to settle debit and credit card transactions, and plans to migrate all card business to the system, with an expected annualized transaction volume of over $25 billion. Cardholders will continue to use their bank cards as usual, and on chain settlement will be conducted in the background to speed up the settlement process. This arrangement retains intermediary institutions such as Mastercard and banks, providing alternative blockchain settlement channels. (Source: Cointelegraph)
