🚨 SoFi transfers a $25 billion card business to blockchain settlement 🧠
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- SoFi announced it will migrate a $25 billion card business to blockchain settlement, using its in-house stablecoin SoFiUSD.
- SoFiUSD is a fiat-pegged stablecoin issued by banks, and has been fully launched across Mastercard’s global payments network.
- This move was jointly released by SoFi and Mastercard on September 22, signaling that the traditional card business is moving toward crypto settlement. 🔥
- In the short term, the market has a pessimistic outlook on this news, which may put downward pressure on related stocks and tokens.
- Due to the transfer of large sums of funds, whales may sell off or diversify their holdings during this period, increasing volatility.
- If settlement efficiency improves, blockchain card business may attract more institutions, and the long-term outlook is expected to be positive.
- In the short term, the market is likely to see panic-driven volatility, and investors should watch for liquidity risk.
- How do you think blockchain settlement will affect the competitive landscape of traditional credit card business?
- Stay tuned and leave a comment to discuss your views.
#Crypto #Stablecoin #Mastercard #Whales #Blockchain