SoFiUSD (SOFID) is a fiat-backed US dollar stablecoin. It has about $347M in circulation, ranking #24 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
SOFID price
$0.9991
On peg Circulating supply
$347M
30-day change
+6.5%
Price
$0.9991
Blockchains
2
Tracked since
Aug 2026
What is SOFID?
SoFiUSD (SOFID) is a fiat-backed US dollar stablecoin. It has about $347M in circulation, ranking #24 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
In the issuer's words: SOFID is a U.S. dollar stablecoin issued by SoFi Bank, N.A., a nationally chartered U.S. bank. It is designed to enable 24/7 settlement and programmable dollar movement while operating within the U.S. banking regulatory framework.
SOFID supply history
$369M$298M
Aug 11, 2026Oct 28, 2026
$369M$298M
Aug 11, 2026Oct 28, 2026
SOFID supply grew 6.5% over the past 30 days, to $347M. Its peak was $358M in October 2026, and supply is 3% below that high.
Is SOFID holding its peg?
Last price
$0.9991
Target
1.0000 USD
Status
On pegSOFID is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where SOFID lives: supply by blockchain
SOFID is spread across several networks. The largest, Solana, holds 71% of supply. Check that the token on your chain is the issuer's official contract, not a bridged copy.
How SOFID is backed
Each SOFID is meant to be redeemable for one unit of its reference currency, backed by reserves such as bank deposits and short-term government debt held by the issuer or its custodians.
Minting and redemption: SOFID is issued by SoFi Bank, N.A. and is intended to be redeemable 1:1 for U.S. dollars through supported SoFi channels.
SOFID risks
Issuer and custody
Your claim is on the issuer and the banks or funds holding its reserves. A failure or freeze there can break the peg, as USDC briefly did in March 2023.
Freezes and blacklists
Fiat-backed issuers can usually freeze tokens at specific addresses, for example to comply with sanctions or court orders.
Bridged versions
Copies of a stablecoin moved by third-party bridges depend on those bridges. Prefer the issuer's native contract on each chain.
Regulation
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
SOFID vs USDT and USDC
Similar fiat-backed stablecoins
See all →
SOFID in the news
Wells Fargo to Launch Tokenized Deposits for Corporate Clients This Fall, Starting With USD-GBP Corridor
SoFi Confirms SoFiUSD Stablecoin Is Live on Solana, Powering Real-Time Commercial Settlements
SOFID FAQ
What is SOFID?
SoFiUSD (SOFID) is a fiat-backed US dollar stablecoin. It has about $347M in circulation, ranking #24 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
Is SOFID pegged 1:1 to the US dollar?
SOFID targets 1 USD. At the last update it traded at $0.9991, a deviation of -0.09%, which we classify as "on peg".
What backs SOFID?
SOFID is a fiat-backed stablecoin. Each SOFID is meant to be redeemable for one unit of its reference currency, backed by reserves such as bank deposits and short-term government debt held by the issuer or its custodians.
Which blockchains is SOFID on?
SOFID is live on 2 blockchains. The largest by supply are Solana ($247M), Ethereum ($100M).
How much SOFID is in circulation?
About $347M of SOFID was in circulation at the last update, +6.5% over 30 days. That makes it the #24 stablecoin by supply among those we track.
Is SOFID safe?
No stablecoin is risk-free. As a fiat-backed design, SOFID's main risks are reliance on the issuer and its banks or custodians, how transparent the reserves are, the issuer's ability to freeze tokens, and regulatory action. It currently shows "on peg" on our peg monitor. This page is information, not investment advice.