SoFi’s tokenized deposit pays 4.40% APY on dollars ready for crypto

SoFi’s tokenized deposit product, SoFi Earn (SOFIE) , launched on October 22, 2026, offering consumers 4.40% APY on digital dollars held at SoFi Bank. SoFi describes it as the first consumer tokenized deposit issued by a national bank, combining deposit insurance with the ability to convert funds into a stablecoin for crypto purchases and blockchain transfers. Key takeaways Each SOFIE represents a $1 bank deposit. SOFIE earns 4.40% APY, with FDIC coverage subject to applicable limits. Members can exchange SOFIE for SoFiUSD at a 1:1 ratio. The rollout runs through November 2026. How SoFi’s tokenized deposit works SOFIE is an interest-bearing deposit at SoFi Bank, separate from the SoFiUSD stablecoin.

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