SoFi Tech Solutions and Mastercard launch crypto card in Mexico

SoFi Tech Solutions, the financial technology unit of SoFi Technologies (NASDAQ: SOFI), announced a partnership with Mexican fintech Orbi and Mastercard to launch a crypto-linked card program in Mexico.

The program allows Orbi customers to spend from their cryptocurrency balances using physical and virtual cards, with funds converted to fiat currency at the point of sale so that merchants receive traditional currency. The cards will also support cash withdrawals at ATMs through SoFi Tech Solutions' connection to Mastercard's Mexico Domestic Switch (MxDS) network.

According to the press release, Orbi is set to become the first cryptocurrency-focused client to issue cards through SoFi Tech Solutions' Mastercard BIN sponsorship program in Mexico. SoFi Tech Solutions will provide the underlying infrastructure, including issuing, transaction authorization, processing, and compliance capabilities.

The partnership also lays groundwork for future stablecoin-based remittances and payments using SoFi's SoFiUSD stablecoin across Mastercard's network.

"Mexico is one of the world's largest remittance markets, and stablecoins are becoming an increasingly important way to move money across its borders," said Kathleen Pierce-Gilmore, President of SoFi Tech Solutions.

Data cited in the release from Bitso shows stablecoins accounted for 40% of crypto purchases among users in Mexico, Argentina, Brazil, and Colombia in 2025, compared with 18% for bitcoin — the first time stablecoins surpassed bitcoin in that regional dataset.

SoFi Tech Solutions currently supports approximately 135 million accounts across nearly 200 clients.

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