SoFi Bank Launches SoFiUSD Stablecoin to Facilitate Business Transactions
SoFiUSD Launch: SoFi Technology has introduced SoFiUSD, a dollar-backed stablecoin designed to provide a regulated infrastructure for fintech companies and banks, enabling fast and secure transactions on a public blockchain.
Internal and External Use: Initially intended for internal operations, SoFi Bank plans to expand the use of SoFiUSD to other users, emphasizing its potential to streamline financial transactions and reduce costs for businesses.
Regulatory Compliance and Security: The stablecoin is fully backed by cash at the Federal Reserve in a 1:1 ratio, ensuring legal compliance and minimizing liquidity and credit risks for users.
Broader Financial Integration: SoFiUSD will be integrated into SoFi Pay for cross-border payments and everyday transactions, while the bank continues to explore cryptocurrency services and partnerships to enhance its offerings in the digital asset space.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK) As of , Lorenzo Protocol (BANK) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 12 technical signals, shows that 5 indicators are flashing buy, while 7 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BANK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BANK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000293 | 0.0143 | 0.0254 | 0.0394 | 0.0505 | 0.0645 | 0.0756 |
| Fibonacci | 0.0143 | 0.0239 | 0.0299 | 0.0394 | 0.049 | 0.055 | 0.0645 |
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