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The US nationwide bank SoFi launches the US dollar stablecoin SoFiUSD, which is now live on Ethereum. In summary, SoFi Bank has launched the USD stablecoin SoFiUSD, becoming the first nationwide bank in the US to issue a stablecoin on a public blockchain. The stablecoin offers low-cost settlement, plans to be open to SoFi users, and will be used in various payment scenarios. This year, several institutions are also advancing stablecoins. PANews December 18 News, according to The Block, reports that SoFi Bank has released the USD stablecoin SoFiUSD (1:1 cash reserve), claiming to be the first nationwide bank in the US to issue a stablecoin on a public chain. SoFiUSD is already live on Ethereum, providing 24/7 near-instant, low-cost settlement for banking, fintech, and corporate partners, with plans to open to SoFi users. SoFi states that cash reserves can be held in Federal Reserve accounts, shared profits, and it supports partner white-label issuance or direct integration into settlement and payment processes. The stablecoin will also be used for card networks, retail settlement, SoFi Pay cross-border remittances, and POS payments. This year, several institutions are promoting stablecoins, including KlarnaUSD, Western Union's USDPT, and Stripe's USDB.