SoFiUSD Expands to Polygon as Bank-Backed Stablecoin Adds Third Network
SoFi members can now buy, hold and convert the bank-issued SoFiUSD stablecoin on Polygon through the SoFi app.
SoFi members can now buy, hold and convert the bank-issued SoFiUSD stablecoin on Polygon through the SoFi app. Ethereum (ETH) is trading at $2,002.05, up 0.4% since this brief published. This is an original TLT brief synthesising 5 outlets (Unchained, Decrypt, The Block, and others), plus live market data, as of Fri, 13 Nov 2026 00:45:04 UTC.
The launch extends SoFiUSD to Polygon’s broader DeFi ecosystem, giving bank customers another network for using the token. It also increases the infrastructure available to a stablecoin that has maintained a near-dollar value despite weakness across the wider crypto market.
- SoFi's Bank-Issued Stablecoin SoFiUSD Goes Live on Polygon, Its Third Blockchain ↗
- SoFi Brings Its Bank-Issued Stablecoin to Polygon’s Payments Stack ↗
- Visa adds Western Union’s USDPT stablecoin to its settlement network in Anchorage tie-up ↗
- Visa Expands Stablecoin Network With Western Union’s USDPT ↗
- Visa adds USDPT stablecoin to a network with a $25B annual settlement pace ↗
- SoFiUSD launched on Polygon, becoming the token’s third supported blockchain.
- SoFi members can buy, hold and convert the token through the SoFi app.
- Polygon TVL stands at $2.64B, down 5.4% over seven days.
- SOFID trades near $1 as Bitcoin and major altcoins decline.
Unchained and Decrypt agree that SoFiUSD is now live on Polygon alongside its existing availability on Ethereum and Solana, confirming Polygon as its third blockchain. Unchained focuses on functionality, reporting that SoFi members can buy, hold and convert SoFiUSD through the SoFi app, while Decrypt identifies the token as the first stablecoin from a U.S. national bank and places the launch on Polygon Open Money Stack. Neither outlet reports a conflicting figure or contradicts the other on the rollout; the difference is primarily emphasis rather than substance.
- Polygon Expands Stablecoin Payouts to Solana, Boosting Cross-Chain Interoperability
- Polygon Expands Open Money Stack to Solana for Stablecoin Payments
- Polygon Expands Stablecoin Access to US Banking for Solana Ecosystem
- Solana Foundation Partners with Standard Chartered-Backed Firm for HKD Stablecoin
- Samsung Wallet expands crypto role as won-stablecoin option is floated
- Pendle Adds Aave-Backed Stablecoin Yield up to 12.8%
- SoFiUSD Expands to Polygon as Bank-Backed Stablecoin Adds Third Network — this brief
Polygon Labs announced that 
SoFiUSD is now available on Polygon, adding a third blockchain to the stablecoin’s distribution. Unchained reports that SoFi members can buy, hold and convert SoFiUSD on Polygon directly through the SoFi app. Decrypt describes the deployment as part of Polygon Open Money Stack and says the token now operates alongside its 
Ethereum and 
Solana versions.
The expansion follows SoFiUSD’s existing support for Ethereum and Solana, with all three networks presented as available within SoFi’s app. Decrypt characterizes SoFiUSD as the first stablecoin issued by a U.S. national bank. Polygon’s ecosystem currently holds $2.64B in total value locked, according to DeFiLlama, giving the latest deployment an established on-chain environment.
Both outlets corroborate the core rollout and the three-network availability, but they highlight different aspects. Unchained concentrates on the customer-facing actions and app integration, whereas Decrypt emphasizes the token’s national-bank issuance and its placement within Polygon Open Money Stack. No material conflict appears between their accounts of the launch.
SoFiUSD was trading at $0.999143, unchanged over 24 hours and down 0.04% over seven days, with a reported market capitalization of $321.01M. DeFiLlama separately lists the circulating supply at $320.96M. The broader market is broadly lower: 
Bitcoin fell 2.97% over 24 hours, the total crypto market capitalization stands at $2.45T, and the Fear & Greed index is at 28, indicating fear. Ethereum trades at $1,994.94, down 2.85% over 24 hours and 16.08% over seven days; Solana is at $80.74, down 3.72% and 14.89% over those respective periods.
The deployment broadens the network reach of a bank-issued stablecoin while Polygon’s TVL has declined 5.4% over seven days. Relevant indicators for the rollout include whether Polygon’s locked value stabilizes, whether SoFiUSD remains close to its dollar peg and whether the new network attracts sustained activity. The launch itself adds functionality rather than establishing a direct cause for any current market movement.
Since this brief published about 11 hours ago, Ethereum (ETH) has moved from $1,994.94 to $2,002.05 — +0.36%.
The chart plots ETH's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 ETH ≈ ₦2.82M (about $2,002.05), down 2.9% over 24 hours. The naira itself trades about 4.2% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · November 12, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
SoFiUSD Expands to Polygon as Bank-Backed Stablecoin Adds Th — questions & answers
Which blockchains now support SoFiUSD?
SoFiUSD is available on Ethereum, Solana and Polygon, making Polygon its third supported blockchain.
What can SoFi members do on Polygon?
SoFi members can buy, hold and convert SoFiUSD through the SoFi app, according to Unchained.
How closely is SoFiUSD tracking the dollar?
SOFID trades at $0.999143 and is down 0.04% over seven days.
How much is 1 Ethereum worth in naira today?
About ₦2.82M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $2,002.05. The naira price moves with both ETH's US-dollar price and the USDT/NGN rate; use our Ethereum in naira page for any amount.
Has Ethereum's price moved since this brief was published?
ETH is up 0.36% since this brief first published — trading at $2,002.05 now versus $1,994.94 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from Unchained, Decrypt, The Block, Crypto Economy, The Cryptonomist, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.