SoFi just put a bank deposit on-chain for everyday customers — with FDIC cover and a yield.
On October 22, 2026, SoFi Technologies launched SoFi Earn (SOFIE), calling it the first national bank-issued tokenized deposit for U.S. consumers. Each SOFIE represents one U.S. dollar held on deposit at SoFi Bank, earns a variable 4.40% APY (rate as of October 20, 2026), and is FDIC-insured up to standard limits. SoFi frames the launch as its fifth crypto-related product in less than a year.
SOFIE is not a payment stablecoin. Members can convert it 1:1 into SoFiUSD when they want to buy crypto in-app or move funds over blockchain rails around the clock; once converted, those dollars leave the insured deposit product. SoFi expects the rollout to crypto customers to finish in November 2026. Tokenized bank deposits sit in a different risk box than exchange stablecoins — read the disclosures before parking cash.
#SoFi #SOFIE #TokenizedDeposits #Stablecoins #Crypto
DYOR. Not financial advice.
On October 22, 2026, SoFi Technologies launched SoFi Earn (SOFIE), calling it the first national bank-issued tokenized deposit for U.S. consumers. Each SOFIE represents one U.S. dollar held on deposit at SoFi Bank, earns a variable 4.40% APY (rate as of October 20, 2026), and is FDIC-insured up to standard limits. SoFi frames the launch as its fifth crypto-related product in less than a year.
SOFIE is not a payment stablecoin. Members can convert it 1:1 into SoFiUSD when they want to buy crypto in-app or move funds over blockchain rails around the clock; once converted, those dollars leave the insured deposit product. SoFi expects the rollout to crypto customers to finish in November 2026. Tokenized bank deposits sit in a different risk box than exchange stablecoins — read the disclosures before parking cash.
#SoFi #SOFIE #TokenizedDeposits #Stablecoins #Crypto
DYOR. Not financial advice.