CoinMeta Data: American fintech company Sofi has begun using SofiUSD to settle debit and credit card transactions on the Mastercard global payment network, and plans to migrate the entire bank card project to blockchain settlement. The related business is expected to have an annual transaction volume of over $25 billion. Sofi calls it the first bank to officially launch stablecoin settlement on the Mastercard network. Merchants do not need to hold SofiUSD or change their payment systems; they can receive settlement funds instantly through Sofi's Big Business Banking platform and withdraw cash for free around the clock. Both parties also plan to expand to other issuing banks and explore cross-border payments and remittance applications.