SoFi's adoption of Solana for its stablecoin marks the third major financial or technology company to build payment infrastructure on the network in 2026, signaling a broader enterprise trend.
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SoFi Makes 3 Major Firms Using Solana for Payments
National bank SoFi will launch its SoFiUSD stablecoin on Solana, becoming the third major enterprise this year to select the network for payment applications and joining a trend that includes Western Union and Google.
"Solana is the right chain to use for payments because of the cost, the settlement speed and ultimately the throughput,” Ben Reynolds, SoFi’s head of business banking, said during a fireside chat at the Solana Accelerate Miami 2026 conference.
SoFi, a nationally chartered bank, first launched its dollar-backed SoFiUSD stablecoin in December 2025. The expansion to Solana follows a similar move by remittance giant Western Union, which launched its USDPT stablecoin on Solana for 24/7 agent settlement, and a partnership between the Solana Foundation and Google Cloud to enable AI agents to pay for APIs using stablecoins on the network.
The convergence of these firms onto Solana shows how stablecoins are starting to challenge legacy payment models, according to Angus Scott, founder of the Solana Research Institute. The moves could blur the lines between consumer remittances, enterprise payments, and wholesale bank settlements, which have traditionally relied on slower systems like SWIFT.
AI Agents Get a Payment Rail
The launch of Pay.sh by the Solana Foundation and Google Cloud introduces a new payment model for autonomous AI systems. The service allows AI agents to pay for Google Cloud services, including Gemini and Vertex AI, on a per-request basis using stablecoins on Solana. This system, built on the open x402 protocol, bypasses the need for monthly subscriptions, enabling micro-transactions that cost fractions of a cent per API call.
From Remittances to Real-Time Settlement
For companies like Western Union and SoFi, Solana offers a way to overhaul internal and external settlement. Western Union's USDPT, issued by Anchorage Digital Bank N.A., is initially being used to replace SWIFT-based settlement with its agents in Bolivia and the Philippines. Analyst Angus Scott noted this allows firms to manage cash across their networks in real-time. SoFi is targeting a similar market of banks, fintechs, and enterprise platforms for 24/7 settlement, especially after a March partnership to enable SoFiUSD settlement across Mastercard’s network.
The combined moves push the total stablecoin market, currently valued at approximately $321 billion according to DefiLlama, further into mainstream finance. With forecasts from Citigroup and the U.S. Treasury suggesting the market could exceed $2 trillion by 2030, the race to build the underlying payment rails is accelerating.
This article is for informational purposes only and does not constitute investment advice.
[1] SoFi to launch SoFiUSD stablecoin on Solana as bank expands crypto payments push[2] Solana and Google Cloud Launch Stablecoin Payments Service for AI Agents[3] Western Union’s Solana-based stablecoin could reshape its payment model, analyst says[4] Western Union Debuts USDPT Stablecoin on Solana Blockchain — Complete Breakdown
