Yahoo-Business Wire
"Galileo Financial Technologies, SoFi’s technology platform announced that SoFi, N.A. is offering instant bank transfers via the FedNow® Service powered by Galileo’s payment technology. The new capability lets SoFi members move money in seconds between their SoFi accounts and their accounts at other U.S. banks, at any time of day, including weekends and holidays. Most banks that use FedNow® Service only support receive capabilities. SoFi is going further by allowing members to both send and receive FedNow® Service payments."
Business Wire
"SoFi Technologies, Inc. announced the launch of SoFi Big Business Banking, a new offering that gives enterprise partners the ability to manage both fiat and crypto banking from a single, nationally chartered bank. This launch builds on SoFi’s integration of blockchain into its core platform. Big Business Banking brings it all together, enabling any company operating across both traditional and digital finance to hold deposits, move money and settle transactions 24/7 within SoFi’s regulated banking platform."
Mastercard
"SoFi’s fully reserved U.S. dollar stablecoin will support settlement across the Mastercard network, including for SoFi Bank, N.A. Galileo, SoFi’s technology platform, will be among the first to offer its clients and their issuing banks the choice to settle transactions using SoFiUSD. The Mastercard Multi-Token Network will look to support SoFiUSD, help expand interoperability between digital assets and traditional forms of money"
Business Wire
"SoFi Technologies, Inc. announced the launch of SoFiUSD, a fully reserved U.S. dollar stablecoin issued by SoFi Bank, N.A. SoFiUSD will enable SoFi to serve as a stablecoin infrastructure provider for banks, fintechs, and enterprise platforms. They will be able to leverage SoFi’s bank-grade infrastructure to streamline their operations with faster and more efficient money movement."
Yahoo Finance
"SoFi Bank’s relationship with Galileo strengthens Mesh Payments’ drive to reduce inefficiencies and accelerate the development of new products. This partnership integrates Mesh Payments’ next-generation expense and card infrastructure with SoFi Bank’s scalable financial framework and Galileo’s modern, customizable API-based payments processing platform."
Business Wire
Galileo Financial Technologies, LLC, owned and operated by SoFi Technologies, Inc., is now offering the Galileo Payment Risk Platform to the entire financial services ecosystem delivering real-time payment risk mitigation controls that allow any fintech or financial brand to proactively reduce fraud losses and minimize payment risks.
SoFi
"SoFi members – we are thrilled to announce that we will be offering the opportunity to get FDIC insurance up to $2 million on all bank balances¹, through the new SoFi FDIC Insurance Network, increasing from the industry standard $250,000 per account, over the coming days. This increased coverage is provided by allowing SoFi to seamlessly place members deposits beyond the standard insurance coverage with specifically identified FDIC insured partner banks. As always, there are zero account fees for SoFi Checking and Savings², and no fees to increase FDIC insurance coverage. All SoFi Checking and Savings members will receive emails notifying them they are now able to sign up over the coming days."
U.S.
“Student lender Social Finance Inc has applied for a national bank charter with the U.S. Office of the Comptroller of the Currency, the company said on Thursday. A banking license would enable the company to hold customer deposits and make loans, without having to rely on a bank partner as it currently does. “We firmly believe that by pursuing a national bank charter, we will be able to help even more people get their money right with enhanced value and more products and services,” said SoFi Chief Executive Anthony Noto. The application for “SoFi Bank, National Association”, will be reviewed by the OCC, the Federal Reserve and the Federal Deposit Insurance Corporation, a spokeswoman said in a statement.”
