According to ChainCatcher citing The Block, SoFi’s stablecoin SoFiUSD has launched on Polygon Open Money Stack. SoFi users can buy, sell, hold and exchange SoFiUSD through the SoFi app without a separate wallet or manual bridging. SoFi Bank, a national bank regulated by the U.S. Office of the Comptroller of the Currency, issues the stablecoin, which is redeemable for U.S. dollars at a 1:1 ratio.