SoFi debuts 4.4% tokenized deposit SOFIE

SoFi Technologies has introduced SoFi Earn, a new tokenized deposit product trading under the ticker SOFIE that offers a 4.40% annual percentage yield with Federal Deposit Insurance Corporation coverage up to applicable limits. Each SOFIE token represents $1 held on deposit at SoFi Bank, allowing members to earn interest on digital dollars while keeping them ready for use. SoFi describes SoFi Earn as the first and only national bank‑issued tokenized deposit for consumers and says no other nationally chartered U.S. bank has previously offered tokenized deposits directly to individual customers.

Funds represented by SOFIE are eligible for FDIC insurance up to $250,000 per depositor, per insured bank, for each account ownership category, within standard regulatory rules. The APY on SoFi Earn is variable and subject to change, but the product is positioned as an interest-bearing bank deposit rather than a payment stablecoin. SoFi Bank is regulated by the Office of the Comptroller of the Currency.

Members access SoFi Earn through their SoFi Crypto accounts, where they can hold balances in SOFIE while earning interest. When they want to deploy funds, they can convert SOFIE on a 1:1 basis into SoFiUSD, SoFi’s stablecoin issued by the bank. The converted SoFiUSD can then be used to buy cryptocurrency within the SoFi app or sent to a supported external wallet over blockchain rails at any time of day.

The deposit continues earning interest until it is converted from SOFIE into SoFiUSD. While balances in SOFIE qualify for FDIC insurance within applicable limits, SoFiUSD, like other stablecoins, is not an FDIC‑insured deposit. SoFi highlights this distinction as a way to combine the earning potential and protections of a bank deposit with the speed and utility of digital assets.

SoFi Earn is rolling out to SoFi Crypto members through November, with the bank stating it expects to complete the rollout in that period. The company characterizes SOFIE as an interest-bearing tokenized deposit at SoFi Bank, separate from the SoFi Crypto trading product, and as a deposit liability of SoFi Bank, N.A., Member FDIC. SOFIE is explicitly described as not being a payment stablecoin.

As an example of intended use, SoFi cites a member saving $5,000 for a future crypto purchase who can keep those funds in a SOFIE deposit account, earning the applicable APY until the moment they decide to convert to SoFiUSD and transact. The structure is aimed at allowing digital dollars that might otherwise sit idle in wallets to keep earning yield until they are spent or transferred.

The launch of SoFi Earn represents SoFi’s fifth cryptocurrency‑related offering in less than a year. In November 2025, the company introduced consumer crypto trading as a nationally chartered bank, followed by the launch of its SoFiUSD stablecoin in December 2025. In May, SoFi added SoFiUSD to its consumer app and outlined plans for tokenized deposits, cross‑border transfers, and additional institutional integrations.

Today, SoFi Crypto supports trading in more than 40 cryptocurrencies, and SoFi reported having 15.8 million members as of the SoFi Earn announcement date. With SOFIE, the firm extends its digital asset lineup into insured deposits that bridge traditional banking and onchain transactions.