SoFi Technologies executed several strategic moves between May and June to unify its financial ecosystem. The company acquired assets from capital markets platform PrimaryBid and purchased loan servicing software provider Peach Finance. SoFi also introduced an AI-powered financial coach for its members.
These initiatives aim to reduce friction between products by creating a more integrated platform. A central component of this strategy is the launch of SoFiUSD, a stablecoin now available on the Ethereum and Solana networks.
The stablecoin maintains a one-to-one redemption rate for US dollars. Liquid assets fully back the digital currency, marking a significant milestone for a US national bank.