U.S. fintech platform SoFi (SOFI) announced that it will issue its own stablecoin on the Solana network, citing reasons of speed and cost reduction. According to The Block, SoFi stated, "Solana was deemed suitable in terms of cost, payment speed, and ultimately throughput." Last December, SoFi launched SoFiUSD, the first stablecoin issued by U.S. national bank SoFi Bank and collateralized by Federal Reserve cash.
