Which banks issued stablecoins this week?

TLDR

SoFi Bank (SoFiUSD) is the only bank that launched a new stablecoin this week, confirmed in a Bloomberg report.

1. SoFiUSD is backed 1:1 by cash and issued by an FDIC?insured national bank per the Bloomberg piece.
2. The FDIC proposed a framework enabling bank?issued stablecoins, but that is a proposal, not a launch (summary).
3. Cross River Bank and Lead Bank began settling with Visa in USDC this week, which is settlement not issuance (Investing.com).

Deep Dive

1. SoFiUSD Details

SoFi Bank issued SoFiUSD, positioning it as a fully cash?backed dollar stablecoin with initial internal use and planned rollout to members. The launch marks a rare case of a nationally chartered bank issuing a stablecoin, per the Bloomberg report and Coindesks coverage of the first bank?issued stablecoin for enterprise payments (Coindesk).

2. Regulatory Context

The FDIC moved ahead with a proposed framework under the GENIUS Act to allow FDIC?supervised banks to apply for subsidiaries to issue payment stablecoins. This is a rulemaking proposal and not an issuance event, per the agency summaries cited in industry coverage (overview, related note).

3. Settlement vs Issuance

Visa enabled USDC settlement for U.S. institutions this week, with Cross River Bank and Lead Bank participating on Solana. This expands bank access to stablecoin rails but does not constitute those banks issuing a coin (Investing.com, Finance Magnates summary).

Conclusion

Only SoFi Bank issued a new stablecoin this week. The broader backdrop is banks moving onto stablecoin rails for settlement while regulators advance proposals for future bank?issued tokens. If your goal is to track true issuance rather than adoption, watch bank press rooms and FDIC rule finalization.