SoFiUSD (SOFID) quarantined stablecoin record
Live tracking temporarily paused
Temporarily withheld because permitted runtime sources do not provide a positive circulating supply or market cap.
Effective 2026-07-15; review due 2026-08-15
Answer First
What is SoFiUSD (SOFID)?
SoFiUSD is SoFi Bank's USD stablecoin, fully reserved by cash at the bank's Federal Reserve master account; minted and redeemed 1:1 via BitGo infrastructure. The static profile records its US Dollar peg mechanism as: 1:1 mint and redeem via BitGo infrastructure; instant conversions between dollars and SOFID
Is SOFID safe?
SoFiUSD is not in Pharos's active universe. Temporarily withheld because permitted runtime sources do not provide a positive circulating supply or market cap.
Static Profile
Static stablecoin profile
SoFiUSD (SOFID) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg US Dollar.
AI summary / Updated Aug 11, 2026
SoFiUSD is what happens when a nationally chartered U.S. bank decides the stablecoin wrapper is worth adding to old-fashioned cash at the Federal Reserve. Reserves sit at SoFi Bank's Fed master account, with BitGo running 1:1 mint and redemption on an upgradeable, bank-controlled contract. The distribution question got its answer in May 2026, when SoFi opened the token to its nearly 15 million app members, making SOFID the first national-bank stablecoin offered directly inside a consumer banking app. What has not...
AI summary · drafted by claude-fable-5 · facts as of Aug 11, 2026
Sources: SoFi press release: SoFiUSD retail launch to nearly 15M members (May 27, 2026)
- Collateral
- 1:1 USD reserves held as cash or cash equivalents at SoFi Bank's Federal Reserve master account; reserves earn interest on reserve balances (IORB) retained by SoFi, not passed to holders
- Peg Mechanism
- 1:1 mint and redeem via BitGo infrastructure; instant conversions between dollars and SOFID
- Jurisdiction
- United States / OCC (national bank charter)
- Proof Of Reserves
- Self-Reported PoR by SoFi product disclosures (press reports monthly Deloitte verification, but no public attestation report or transparency page exists; the previously recorded SEC URL resolved to an unrelated ABS-15G filing under a different CIK) Reserve source
Next Actions
This record preserves static and historical context; live actions are available only for active assets.
Source: checked-in StablecoinMeta profile fields. This inactive record does not participate in current live monitoring; the summary above was last updated Aug 11, 2026.
SOFID quick answers
What is SoFiUSD (SOFID)?
SoFiUSD is SoFi Bank's USD stablecoin, fully reserved by cash at the bank's Federal Reserve master account; minted and redeemed 1:1 via BitGo infrastructure. The static profile records its US Dollar peg mechanism as: 1:1 mint and redeem via BitGo infrastructure; instant conversions between dollars and SOFID
Is SOFID safe?
SoFiUSD is not in Pharos's active universe. Temporarily withheld because permitted runtime sources do not provide a positive circulating supply or market cap.
What backs SOFID?
Pharos classifies SOFID backing as Real-World Asset Backed. Collateral, per the static profile: 1:1 USD reserves held as cash or cash equivalents at SoFi Bank's Federal Reserve master account; reserves earn interest on reserve balances (IORB) retained by SoFi, not passed to holders Reserve evidence: Self-Reported PoR from SoFi product disclosures (press reports monthly Deloitte verification, but no public attestation report or transparency page exists; the previously recorded SEC URL resolved to an unrelated ABS-15G filing under a different CIK).
Can SOFID be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. SOFID is outside active monitoring; this static record preserves the reviewed control context.