Written by Robert Lakinstaff editorEdited by Yohan Yunstaff editor

Written by Robert Lakinstaff editor

Edited by Yohan Yunstaff editor

SoFi unveils bank-issued tokenized deposit for yield-bearing crypto funds

Latest NewsPublishedOct 22, 2026

SoFi Bank introduced SoFi Earn, a tokenized deposit paying 4.40% APY with FDIC coverage, allowing users to convert funds to stablecoins 24/7.

SoFi Technologies introduced SoFi Earn (SOFIE) on Thursday, offering a variable 4.4% annual percentage yield on tokenized bank deposits.

SOFIE has no minimum balance requirement, as reported by the company’s announcement. Each SOFIE represents $1 deposited at SoFi Bank. Customers can convert it one-for-one into SoFiUSD, the bank’s dollar-pegged stablecoin, to buy crypto in its app or send funds to supported external wallets.

SOFIE deposits qualify for Federal Deposit Insurance Corporation coverage up to $250,000 per depositor, per insured bank, for each account ownership category. SoFiUSD carries no FDIC insurance.

On Wednesday, the US Office of the Comptroller of the Currency issued a final rule covering payment stablecoin issuance and some custody activities, with the GENIUS Act framework taking effect in mid-January.

Cointelegraph reported in May that SoFi planned to introduce interest-bearing tokenized deposits when it made SoFiUSD available through its consumer banking app. At the time, the company stated the feature would follow in the coming weeks.

The bank stated SOFIE is rolling out to SoFi Crypto members through November. Members access the separate SOFIE deposit account through their SoFi Crypto account.

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• Stablecoin
• Sofi
• Industry

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This article references reporting from cointelegraph.com.