sofie

🏛 $SOFIE: SoFi Unveils First National Bank Tokenized Deposit

SoFi launched SoFi Earn ($SOFIE), introducing the first consumer tokenized deposit issued by a U.S. national bank. Each token represents $1 held on deposit, delivering a 4.40% annual percentage yield backed by FDIC insurance. Tokens convert 1:1 into the bank's stablecoin for trading or on-chain settlement, though FDIC protections apply only up to standard statutory limits.

#SOFIE #TokenizedDeposits #Banking

【Market Flash】$64 billion in stablecoins is just sitting idle, and SoFi is offering 4.40% APY to attract that cash. National bank SoFi has launched tokenized deposits called SOFIE: each token represents a $1 bank deposit and is FDIC-insured up to applicable limits. When you want to use it, you can convert it 1:1 into SoFiUSD to buy crypto or transfer it out. Don’t mix them up: SOFIE is a deposit; SoFiUSD itself is not a deposit and is not FDIC-insured. With banks getting directly involved, stablecoins will compete on licenses and interest rates—not just narratives. Would you convert your idle stablecoins into this kind of bank tokenized deposit? If you’re bullish, reply 1; if you’re waiting, reply 2.
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#稳定币 #代币化存款 #SOFIE
(Source: Unchained)
⚠️Risk warning: The above is shared for market information only and does not constitute investment advice. Investing involves risks; please exercise caution.

Wild! U.S. bank SoFi is going all in—with the launch of tokenized deposits, SOFIE, offering a 4.4% annual yield and FDIC deposit insurance. You can convert them 1:1 into its own stablecoin, SoFiUSD, anytime, to buy and transfer crypto—24/7.

Here’s the clever part: the GENIUS Act explicitly prohibits stablecoins from paying interest, so SoFi took a detour. What it’s issuing isn’t a stablecoin, but an on-chain certificate representing a bank deposit. The money is still, in essence, sitting in a bank account earning interest, and the arrangement follows banking rules for compliance.

The Fed estimates that $64 billion worth of stablecoins are sitting idle in wallets. SoFi’s clearly hoping to draw in some of that idle cash. In the CEO’s own words: “Too many digital assets are sitting idle and dormant.” #SoFi #SOFIE #代币化 #稳定币 #FDIC Do you think this is genuine innovation or regulatory arbitrage?