SoFi and Mastercard Activate SoFiUSD Stablecoin Settlement
Ripple USD (RLUSD)
Editor:
Eugene Serbin
CoinGape reported on September 22, 2026, that SoFi Technologies and Mastercard have launched stablecoin settlement for SoFi Bank’s debit and credit card program. This initiative brings SoFiUSD to Mastercard’s global payments network, following earlier support for Ripple’s RLUSD and Circle’s USDC. SoFi Bank is migrating its entire $25 billion card program to stablecoin settlement using SoFiUSD, becoming the first bank to go live with this feature on the Mastercard network.
The launch expands settlement and liquidity management for card issuers, acquirers, and merchants. It demonstrates how bank-issued stablecoins can operate with existing payment infrastructure, bridging traditional financial systems and blockchain-based networks. Anthony Noto, CEO of SoFi, stated that merchants do not need to hold stablecoins or build new infrastructure to participate.
He noted that any merchant can receive settlement funds instantly in a SoFi Bank account and withdraw to cash around the clock at zero cost. SoFiUSD is fully redeemable 1:1 for U.S. dollars and supported by reserves consisting primarily of cash. This milestone supports Mastercard’s broader efforts to support stablecoin settlement with a growing ecosystem of partners. Traditional finance companies are increasingly viewing stablecoins as settlement assets for instant cross-border transfers.
How the market reacted
Whalio's own Binance spot order flow for RLUSD, measured when this story was written up on 22 September 2026. Not the outlet's figures.
Whalio's data shows RLUSD trading at $1.00 with a 24-hour buy ratio of 54.6%, indicating that buyers are currently outnumbering sellers. The 1-hour buy ratio sits lower at 34.6%, while the 4-hour ratio is 53.3%, suggesting that short-term selling pressure has increased compared to the broader daily trend. Volume delta reflects this shift, showing a negative $4,876,578 over the last hour against a positive $1,242,051 over four hours. The cumulative volume delta for the 24-hour period is +$21,848,271, confirming that net buying has dominated the day overall. Spot volume reached $103,686,685 with 11,160 trades, indicating active market participation. Buying pressure appears to be building over the longer timeframe despite a recent dip in the immediate hour.
The latest daily buy ratio of 39.6% sits at the 19th percentile of the last 267 days, against a median of 52.6% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for RLUSD, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 46.0%, making today's 24-hour ratio of 54.6% an unusually high day for buying activity. This represents an 8.5 point increase over the weekly average, highlighting a distinct shift in sentiment. Volume was also elevated at 1.64 times the average, with total volume delta for the eight-day period at -$27,328,421. While this specific day shows strong net buying, the broader weekly trend has been characterized by net selling. This contrast marks a notable deviation from the coin's recent trading patterns.