Monad has added support for SoFiUSD through BitGo, extending the Layer 1 network’s stablecoin infrastructure with a dollar token issued by SoFi Bank. Monad said users can now access SoFiUSD on the network through BitGo, with the token designed to be redeemable 1:1 for U.S. dollars and backed primarily by cash reserves. The deployment gives Monad another regulated dollar-denominated settlement asset while expanding SoFiUSD beyond its earlier blockchain integrations.
SoFi describes SoFiUSD, also identified as SOFID, as a payment stablecoin issued by SoFi Bank, N.A. The official SoFiUSD page states that the token is intended to maintain parity with the dollar and is not a bank deposit, FDIC-insured product or legal tender. That distinction is important because the issuer is a regulated bank, but holders of the stablecoin do not receive the same protections as conventional depositors.
BitGo Provides the Infrastructure and Distribution Layer
BitGo was selected earlier in 2026 to provide stablecoin infrastructure and institutional distribution for SoFiUSD. Under the arrangement, its Stablecoin-as-a-Service platform supplies smart-contract, custody and operational infrastructure supporting issuance, while BitGo also helps distribute the token to institutional clients. On Monad, BitGo therefore acts as the infrastructure bridge rather than the issuer of the stablecoin itself.
The regulatory status of SoFi Bank can be independently verified through the Office of the Comptroller of the Currency, which records the approval process that established SoFi Bank, National Association. That federal banking charter provides institutional context for SoFiUSD, although it does not turn the token itself into an insured bank deposit.
SoFi has described SoFiUSD as the first stablecoin issued by a U.S. national bank on a public blockchain. Its May launch materials said the token could be redeemed 1:1 and that liquid assets were maintained against outstanding supply. The Monad deployment extends that bank-issued token into another public blockchain environment rather than creating a separate Monad-native stablecoin.
Monad Continues Building Around Stablecoin Payments
The integration fits a broader payments strategy already underway at the Monad Foundation. In 2025, the organization acquired stablecoin infrastructure provider Portal, bringing payments tooling and stablecoin expertise closer to the network’s core ecosystem development. Adding SoFiUSD through BitGo gives that strategy another external liquidity rail backed by an established regulated issuer.
Monad launched its public mainnet on November 24, 2025 and has positioned the network around high-throughput, EVM-compatible applications spanning payments, tokenization and decentralized finance. SoFiUSD broadens the stablecoin options available to developers and users, but the significance of the deployment will ultimately depend on actual circulation, transaction activity and integration across applications rather than availability alone.
