SoFi Shares Rise 7% After Launching US Bank Stablecoin
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- SoFi shares rose 7% on Friday after the company launched its dollar‑backed stablecoin to 15 million users.
- SoFi rolled out SoFiUSD, a dollar‑backed stablecoin, to 15 million users of its banking app, becoming the first U.S. national bank to offer a stablecoin directly to retail customers on a public blockchain.
- SoFi stock is up 15% over the past week, trading at $18.01, but remains 34% lower year‑to‑date.
Why it matters: SoFi’s 7% share jump rewards shareholders, while Bitcoin’s slide near $76k squeezes crypto funds, cutting short‑term returns and highlighting how geopolitical talks can swing market sentiment.
