SoFi debuts SOFIE tokenized deposit with 4.40% APY and FDIC insurance
SoFi has rolled out SOFIE, a national bank-issued tokenized deposit offering a 4.40% annual percentage yield and FDIC insurance for crypto users.
SoFi Technologies has launched SoFi Earn, also known as SOFIE, an interest-bearing tokenized deposit designed to let crypto users earn yield on dollar balances. Billed by the company as the first consumer tokenized deposit issued by a national bank, the product launched with a 4.40% annual percentage yield and is rolling out to SoFi Crypto members through November.[1][2][4]
Each SOFIE token represents $1 held at SoFi Bank and carries FDIC insurance up to applicable statutory limits. Holders can swap SOFIE one-for-one into SoFiUSD, the bank's dollar stablecoin, to trade crypto within the SoFi app or transfer funds to external wallets at any time. While SOFIE is structured as a bank deposit account with deposit insurance protections, SoFi's disclosures note that SoFiUSD itself is neither a deposit nor FDIC-insured.[2][5][6]
SoFi CEO Anthony Noto stated that the product combines bank deposit earnings and protections with the utility and speed of digital assets, aiming to activate dormant balances. The bank pointed to Federal Reserve research showing that approximately $64 billion, or 21.2% of the total stablecoin supply, remains idle or rarely used in crypto wallets.[2]
SOFIE marks SoFi's fifth crypto product release in less than a year. The company introduced consumer crypto trading in November 2025 and opened SoFiUSD to members in May 2026, which now settles SoFi's card program over Mastercard's network. Kraken parent Payward also agreed in September to list SoFiUSD and integrate into SoFi's 24/7 settlement network.[2]
Key facts
- SOFIE, or SoFi Earn, launched offering a 4.40% annual percentage yield.
- Each SOFIE token represents $1 held on deposit at SoFi Bank and carries FDIC insurance up to applicable limits.
- SOFIE can be converted 1:1 into SoFiUSD, which is not a bank deposit and is not FDIC-insured.
- SoFi described SOFIE as the first consumer tokenized deposit issued by a national bank.
- Access to SOFIE is rolling out to SoFi Crypto members through November.
- SoFi cited Federal Reserve data estimating that $64 billion, or 21.2% of stablecoin supply, sits idle or rarely used in wallets.
Sources · 6 sources
- CO
CoinMarketCap@CoinMarketCapPost on X ·
LATEST: 🏦 SoFi launched SOFIE, what it calls the first national bank-issued tokenized deposit for consumers, earning 4.40% APY and convertible 1:1 to the SoFiUSD stablecoin. https://t.co/DzotKQTB0X
Open source - UN
UnchainedArticle ·
SoFi Launches an Interest-Bearing Tokenized Deposit That Converts Into Its SoFiUSD Stablecoin SoFi Technologies on Thursday rolled out an interest-bearing tokenized deposit called SoFi Earn , or SOFIE , giving members of its crypto service a place to earn yield on dollars before they move them into its stablecoin. SoFi called SOFIE the first and only tokenized deposit for consumers issued by a national bank. Each token stands for $1 held at SoFi Bank and carries FDIC insurance up to applicable limits, the company said. SoFi listed a 4.40% annual percentage yield at launch. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . How SOFIE Works With SoFiUSD When holders are ready to spend, they swap SOFIE one-for-one into SoFiUSD (SOFID) , the bank’s dollar stablecoin, then use it to buy crypto inside the SoFi app or send it to a supported outside wallet at any hour. SOFIE is held through a member’s SoFi Crypto account, and SoFi said access is reaching SoFi Crypto members now through November. The two tokens are structured differently. SoFi’s disclosures for SoFiUSD state that the stablecoin is not a deposit and is not FDIC-insured, while SOFIE is a deposit account at the bank. “Too much money in the digital asset ecosystem is sitting idle, leaving massive potential earnings on the table for millions of people,” Anthony Noto , SoFi’s CEO, said in the SOFIE announcement. He added that the product “combines the earning power and protections of a bank deposit with the speed and utility of digital assets.” To size that idle pool, SoFi pointed to Federal Reserve research that it said puts about $64 billion , or 21.2% of stablecoin supply, in wallets that are inactive, forgotten or rarely used. The 21.2% share matches an April estimate from the Federal Reserve Bank of Kansas City, which sorted stablecoins into trading, transfer, payment and idle uses. SoFi counts SOFIE as its fifth new crypto product in under a year. The bank began offering crypto trading to consumers in November 2025 and now lists more than 40 coins. It introduced SoFiUSD in December 2025 for internal settlement, then opened it to members on May 27, 2026, saying at the time that it would build a way to convert the stablecoin into tokenized deposits. SoFi says SoFiUSD now settles its entire card program over Mastercard’s network. In September, Kraken parent Payward agreed to list the stablecoin and join SoFi’s around-the-clock settlement network. SoFi reports 15.8 million members. Related Listen: Why Banks Failed to Kill Stablecoin Rewards in the Clarity Act The post SoFi Launches an Interest-Bearing Tokenized Deposit That Converts Into Its SoFiUSD Stablecoin appeared first on Unchained .
Open source - TW
The Wolf Of All Streets@scottmelkerPost on X ·
JUST IN: SOFI $SOFI LAUNCHES AN FDIC-INSURED TOKENIZED DEPOSIT PAYING 4.4% APY THAT CONVERTS 1:1 INTO ITS SOFIUSD STABLECOIN SOFI SAYS IT IS THE FIRST US NATIONAL BANK TO OFFER TOKENIZED DEPOSITS TO CONSUMERS
Open source - LS
Laura Shin@laurashinPost on X ·
SoFi Earn is rolling out to SoFi Crypto members through November. Per the company, each SOFIE token stands for $1 on deposit at SoFi Bank, FDIC-insured up to applicable limits. https://t.co/a3FTQnp0aT
Open source - CT
Coin TelegraphArticle ·
SoFi unveils bank-issued tokenized deposit for yield-bearing crypto funds SoFi Bank launched SoFi Earn, a tokenized deposit paying 4.40% APY with FDIC coverage, allowing users to convert funds to stablecoins 24/7.
Open source - DE
DecryptArticle ·
SoFi Launches Tokenized Deposit That Earns 4.4% and Converts to a Stablecoin Each SOFIE token represents $1 on deposit at SoFi Bank, earning 4.40% APY with FDIC insurance—a yield-and-protection combination ordinary stablecoins lack.
Open source