SoFi Launches Tokenized Deposit SOFIE with 4.4% Annual Yield and 1:1 Convertibility to SoFiUSD

Odaily reports: Fintech company SoFi has launched SoFi Earn (SOFIE), calling it the first tokenized deposit from a nationwide U.S. bank offered to consumers. Each SOFIE corresponds to $1 in SoFi Bank deposits, with holders earning a 4.40% annual percentage yield, and funds covered by Federal Deposit Insurance Corporation (FDIC) insurance up to applicable limits.

Users can convert SOFIE 1:1 into SoFiUSD, then use it to purchase cryptocurrencies within the SoFi app, or transfer U.S. dollars around the clock via blockchain networks. SoFi stated that the product is designed to allow digital dollars to continue generating yield before they are used.

SoFi Earn is the fifth crypto product SoFi has launched in under a year. SoFi resumed cryptocurrency trading in late 2025 and currently supports trading of more than 40 tokens; its SoFiUSD is already deployed on Ethereum and Solana and is used to settle all of SoFi's card programs. (Decrypt)