SoFiUSD Expands to Monad as Third Chain, With BitGo Infrastructure

SoFi Bank's SoFiUSD stablecoin deployed to Monad in August 2026, its third blockchain after Ethereum and Solana, with custody firm BitGo supplying the infrastructure behind the rollout. The expansion extends the dollar-pegged token to one of the fastest-executing networks in the industry, eight months after SoFi and BitGo struck a broader infrastructure and distribution partnership in March 2026.

What is the rollout timeline?

The record is short and tidy. SoFiUSD launched on Ethereum in December 2025. It reached Solana by April 2026. Monad followed in August of this year, making it the third chain to host the token.

Each step ran on BitGo's Stablecoin-as-a-Service platform. That means SoFi did not build its own issuance stack. It rented one. The March 2026 agreement between the two firms covered both infrastructure and distribution, and the Monad deployment is the visible result.

The pace matters. Three chains in roughly nine months is fast for a bank-issued stablecoin, and it signals SoFi wants SoFiUSD in the plumbing of payments rather than sitting in a treasury drawer.

Why Monad?

Monad brings a technical edge. The network uses parallel execution and can process more than 10,000 transactions per second, according to the project's own figures. That throughput matters for the use cases SoFi Bank has identified for the token: round-the-clock settlement, business-to-business payments and remittances.

Those are volume businesses. A remittance corridor or a B2B payment rail needs to handle bursts of transactions without congestion or unpredictable fees. A chain that can clear five digits of transactions per second fits that profile better than one that cannot.

The around-the-clock point deserves attention too. Traditional bank settlement stops on nights and weekends. A stablecoin on a live network settles whenever the transaction is sent. For a bank like SoFi, that is the operational pitch in a single sentence.

How are the reserves handled?

Each SoFiUSD can be redeemed for $1. SoFi Bank holds most of the token's cash backing in its Federal Reserve account, which places the reserves at the safest end of the custody spectrum. Third parties attest to the reserves on a regular basis.

That structure answers the question every stablecoin holder eventually asks: what backs this token? In SoFiUSD's case, the answer is dollar cash held at the central bank, with external attestation layered on top.

The combination of a regulated bank issuer, Fed-account custody and repeated attestation puts SoFiUSD in the most conservative tier of stablecoin design currently on the market.

What does this change for payments?

The practical question is what a third chain actually buys. The answer is reach. Each new network puts SoFiUSD in front of developers and payment flows that live on that chain and nowhere else. Solana users were not reachable from Ethereum. Monad users are not reachable from either.

For BitGo, the expansion validates the Stablecoin-as-a-Service model: a bank can issue a compliant dollar token across multiple chains without building issuance, attestation and distribution itself.

The forward picture is straightforward. SoFi now has a three-chain footprint, a high-throughput venue in Monad, and identified payment use cases waiting on volume. Whether further chains follow, and whether B2B and remittance flows materialize on the new network, will define the next phase of the rollout.