# #955 - SoFiUSD Stablecoin Hits $100m Market Cap On Ethereum

*SoFi rolls out its stablecoin. Cash App supports stablecoin transfers. And Aztec Labs acquires ZKPassport.*

By [ETH Daily](https://ethdaily.io) · 2026-05-28

news, 2026, may2026

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Quick Take
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*   SoFi rolls out SoFiUSD on Ethereum.
    
*   Mastercard granted a BitLicense.
    
*   Cash App enables USDC transfers.
    
*   Aztec Labs acquires Obsidion.
    

[https://open.spotify.com/episode/0CCre7fPnHuHD6VhtNA5nj](https://open.spotify.com/episode/0CCre7fPnHuHD6VhtNA5nj)

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SoFi Rolls Out SoFiUSD Stablecoin
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SoFi Technologies rolled out SoFiUSD, its native U.S. dollar stablecoin, to SoFi members. The stablecoin already has over $100 million in market cap on Ethereum mainnet and is backed 1:1 to U.S. dollars. SoFi Bank, N.A. becomes the first nationally chartered retail bank to issue a stablecoin on Ethereum, with tokenized deposit functionality also in development.

[Read more](https://ethdaily.io/sofi-rolls-out-sofiusd-stablecoin)

Mastercard Granted NY BitLicense
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Mastercard Transaction Services was granted a BitLicense by the New York State Department of Financial Services, allowing it to engage with stablecoins and tokenized deposits in the state of New York. The license supports Mastercard's broader strategy to bridge payment and settlement infrastructure for digital assets while maintaining its existing compliance.

[Read more](https://www.mastercard.com/us/en/news-and-trends/press/2026/may/mastercard-granted-new-york-state-department-of-financial-servic.html)

Cash App Supports USDC Transfers
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Cash App launched support for stablecoins, allowing its nearly 60 million users to send and receive USDC directly from their existing balance with no wallet setup required. The feature is live on Ethereum, Polygon, and Arbitrum, with auto-conversion to USD at a 1:1 ratio with no fees. The feature is unavailable to New York residents.

[Read more](https://ethdaily.io/cash-app-supports-usdc-transfers)

Aztec Labs Acquires ZKPassport
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Aztec Labs announced its acquisition of Obsidion, the team behind ZKPassport, a ZK-powered private identity verification platform. ZKPassport allows users to prove age and nationality from over 130 supported government IDs without revealing their full personal data. ZKPassport will remain open source under Aztec Labs, with co-founders Michael Elliot and Theo Madzou staying on to expand the protocol into new consumer products.

[Read more](https://ethdaily.io/aztec-labs-acquires-zkpassport)

Other News
----------

*   ETH Daily x Ethereum Fnd [live stream](https://x.com/ethdaily/status/2059666645854097461)
    
*   Devcon Supporters [program](https://devcon.org/en/form/supporter-application/)
    
*   SharpLink DAT 1yr [anniversary](https://x.com/ethcforg/status/2059665484388135271)
    
*   TheDAO Security QF [results](https://forum.giveth.io/t/ethereum-security-qf-round-results-april-23-may-14-2026/2201)
    
*   Wintermute [$200k to](https://x.com/wintermute_t/status/2059759024728625322) Ethereum Security
    
*   Protocol funding mechanism [discourse](https://x.com/trent_vanepps/status/2059684290708001201)
    
*   Vitalik on [CROPS AI](https://x.com/VitalikButerin/status/2059739380785271033)
    
*   Transparency Alliance [introduced](https://blockworks.com/insights/blockworks-launches-transparency-alliance)
    
*   Robinhood [agentic accounts](https://x.com/RobinhoodApp/status/2059652337690448344)
    

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Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created

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*Originally published on [ETH Daily](https://ethdaily.io/955)*