SoFi Selects BitGo to Launch Bank-Issued Stablecoin SoFiUSD

US companies race to build stablecoin infrastructure

SoFis push into the stablecoin market comes amid a broader shift toward regulated digital dollar infrastructure in the United States, following the passage of the GENIUS Act, which establishes a federal regulatory framework for payment stablecoins and their issuers.

Against this backdrop, financial technology companies are expanding the infrastructure needed to support stablecoin payments and settlement.

As reported by Cointelegraph, payment operations platform Modern Treasury recently launched an integrated payment service that supports stablecoin rails alongside traditional banking infrastructure. The system enables businesses to settle transactions using stablecoins in addition to conventional payment methods such as ACH transfers and wire payments.

The platform currently supports several US dollar-pegged tokens, including USDC (USDC), Global Dollar (USDG) and Pax Dollar (USDP).

Separately, digital asset infrastructure company Stablecore recently joined the Jack Henry Fintech Integration Network, which connects nearly 1,700 financial institutions. The integration enables banks and credit unions on the network to offer stablecoin and tokenized-asset services through their existing banking platforms.