SoFi Technologies became the first U.S. national bank to make a bank-issued stablecoin available directly within a consumer banking app, it said Wednesday—a move that underscores how rapidly the line between traditional finance and the crypto world is dissolving.

The San Francisco-based fintech announced that SoFiUSD, its dollar-pegged digital token, is now available for members to buy, sell, hold, and convert inside the SoFi app—the first time a stablecoin issued by a federally chartered bank has been offered directly on a banking platform.

The launch arrives as Congress pushes toward establishing a formal regulatory framework for cryptocurrency in the United States with the Clarity Act—legislation that would, for the first time, set federal rules governing the broader crypto market. Last summer, President Donald Trump signed the GENIUS Act into law, establishing rules specifically focused on issuing and trading stablecoins.

“People no longer have to choose between blockchain technology and regulated banking products,” said SoFi CEO Anthony Noto, in a statement. “With SoFiUSD, we’re giving our members a single place to buy, hold, and pay with digital assets in the same app they already use to save, spend, borrow, and invest.”

SoFiUSD is redeemable one-to-one for U.S. dollars from SoFi Bank, with the company maintaining liquid assets to back all outstanding tokens. Independent auditors will conduct regular attestations of those reserves. The coin runs on both the Ethereum and Solana blockchains.

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The company also outlined a near-term roadmap, including plans to let members convert SoFiUSD into tokenized deposits eligible for FDIC insurance, enable low-cost cross-border transfers around the clock, and list the token on the institutional crypto exchange Bullish.

Despite the bank-grade backing, SoFi cautioned that SoFiUSD is not itself FDIC-insured—and, like all digital assets, carries the risk of loss.