SoFi Introduces SOFIE Tokenized Deposit with 4.4% Yield

SoFi Launches Innovative Tokenized Deposit

SoFi has unveiled a groundbreaking product called SoFi Earn (ticker: SOFIE), which it claims to be the first tokenized deposit issued by a national bank for consumers. This product aims to provide a solution for idle digital dollars by offering a competitive interest rate and FDIC insurance, distinguishing it from traditional stablecoins.

The announcement, made on Thursday, highlights that each SOFIE token represents $1 deposited at SoFi Bank, yielding an annual percentage rate of 4.40%. This feature ensures that funds are safeguarded up to applicable limits, addressing a common concern among users of stablecoins, which typically do not offer such protections.

Users can easily convert their SOFIE tokens into SoFiUSD, the company’s stablecoin, allowing them to purchase cryptocurrencies within the SoFi app or transfer dollars via blockchain at any time. This product targets a significant gap in the market, as research from the Federal Reserve indicates that approximately $64 billion, or 21% of the stablecoin market, remains inactive in wallets.

“Too much money in the digital asset ecosystem is sitting idle,” stated SoFi CEO Anthony Noto, emphasizing the need for a product that combines bank-like earning potential with the efficiency of digital assets.

SoFi Earn marks the fifth cryptocurrency-related offering by the company within a year, part of its strategy to enhance its digital finance ecosystem. SoFi re-entered the cryptocurrency trading space in late 2025, becoming the first national bank in the U.S. to provide such services, allowing users to trade over 40 different tokens.

This launch follows SoFiUSD, which is notable for being the first stablecoin issued by a U.S. national bank, and is currently employed for transactions in SoFi's card program through the Mastercard network. By combining a yield-bearing, insured deposit with the functionality of a stablecoin, SoFi aims to cater to consumer demands in the evolving financial landscape.