ME News reports that on October 22 (UTC+8), fintech company SoFi launched SoFi Earn (SOFIE), calling it the first U.S. nationwide bank-issued tokenized deposit for consumers. Each SOFIE token represents $1 in deposits at SoFi Bank, and holders earn an annualized yield of 4.40%, with funds insured by the Federal Deposit Insurance Corporation (FDIC) up to applicable limits.
Users can exchange SOFIE for SoFiUSD at a 1:1 rate, then use the SoFi app to purchase cryptocurrencies or transfer USD 24/7 via blockchain networks. SoFi states that this product is designed to allow digital dollars to continue earning interest before use.
SoFi Earn is SoFi’s fifth cryptocurrency product launched in less than a year. SoFi resumed cryptocurrency trading at the end of 2025 and currently supports trading for over 40 tokens; its issued SoFiUSD has been deployed on Ethereum and Solana and is used to settle all of SoFi’s debit card programs. (Source: ODAILY)
SoFi Launches Tokenized Deposit SOFIE with 4.4% APY and 1:1 Redemption for SoFiUSD
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Summary
SoFi launched SOFIE, a tokenized deposit offering 4.4% APY with FDIC insurance. Each SOFIE represents $1 in SoFi Bank deposits and can be redeemed 1:1 for SoFiUSD. SoFiUSD is available on Ethereum and Solana and can be used for crypto purchases through the SoFi app. This is SoFi’s fifth crypto product in under a year. Crypto news highlights SoFi’s expansion into tokenized assets. SoFi has resumed crypto trading today and now supports over 40 tokens.
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