SoFi Tokenized Deposit SOFIE: 4.40% APY, FDIC Insured

SoFi launched SOFIE, a bank-issued tokenized deposit paying 4.40% APY with FDIC insurance, convertible one-to-one into its SoFiUSD stablecoin.

SoFi has introduced a tokenized deposit called SoFi Earn, trading as SOFIE, and it is a notable twist on the SoFi tokenized deposit story because each token represents $1 held at SoFi Bank while paying 4.40% annual percentage yield. The company billed it as the first national bank-issued tokenized deposit for consumers, and the design links a deposit account to a stablecoin rather than replacing one with the other.

What happened with the SoFi tokenized deposit

SoFi announced SoFi Earn on a Thursday, without the notes specifying the exact date. Every SOFIE token is backed by $1 on deposit at SoFi Bank and earns 4.40% APY, with funds FDIC-insured up to applicable limits.

The token is not a dead end. Holders can convert SOFIE one-to-one into SoFiUSD, SoFi's stablecoin, then use those dollars to buy crypto inside the SoFi app or move them over blockchain rails around the clock.

This is the fifth crypto product SoFi has rolled out in under a year. The company returned to crypto trading in late 2025, offers more than 40 tokens, and has already launched SoFiUSD across Ethereum and Solana, where it settles SoFi's entire card program over Mastercard's network. Earlier moves included business banking for digital assets and a stablecoin tie-up involving Kraken.

Why the yield and insurance angle matters

Most stablecoins are digital dollars that pay nothing and carry no deposit insurance. SoFi is positioning SOFIE as the opposite: a bank deposit with a yield, wrapped in a token that can be spent on-chain.

CEO Anthony Noto said too much money in the digital asset ecosystem is sitting idle, arguing the product pairs the earning power and protections of a bank deposit with the speed and utility of digital assets. SoFi backed that argument with Federal Reserve research estimating about $64 billion, roughly 21% of the stablecoin market, sits in forgotten or inactive wallets.

For holders, the pitch is straightforward: idle dollars could earn 4.40% while keeping a path into crypto trading. For traders, the more interesting question is whether a bank-branded, insured token pulls liquidity away from non-yielding stablecoins.

How SOFIE differs from a plain stablecoin

Issuer: SOFIE is a tokenized deposit from a nationally chartered bank, while SoFiUSD is the company's stablecoin.
Backing: each SOFIE equals $1 on deposit at SoFi Bank, with FDIC insurance up to applicable limits.
Yield: SOFIE pays 4.40% APY; many stablecoins pay nothing.
Conversion: SOFIE swaps one-to-one into SoFiUSD for crypto purchases or blockchain transfers.

The two-token structure is worth understanding before assuming SOFIE behaves like a typical stablecoin. The deposit sits inside the bank; the stablecoin is the on-chain spending layer.

What to watch next

The notes do not disclose SOFIE's availability, minimums, or whether the 4.40% rate can change, so those details are the first things to verify. Watch whether the yield holds if rate conditions shift, since a deposit-linked product may reprice.

Also watch adoption of the SOFIE-to-SoFiUSD conversion path. If users routinely convert into SoFiUSD to trade or move funds, that would show the design working as intended. If tokens mostly sit still, the idle-money problem SoFi cites may simply move rather than shrink.

One caution: the second source in the notes only gives a brief summary and does not independently confirm the details reported elsewhere. Treat the launch claims as company statements until independently verified.

FAQ

What is SOFIE from SoFi?

SOFIE is the ticker for SoFi Earn, a tokenized deposit where each token represents $1 held at SoFi Bank. It earns 4.40% annual percentage yield and is FDIC-insured up to applicable limits.

How does SOFIE convert into SoFiUSD?

Holders can convert SOFIE one-to-one into SoFiUSD, SoFi's stablecoin. The converted dollars can then be used to buy crypto in the SoFi app or moved over blockchain rails around the clock.

Why did SoFi launch a tokenized deposit?

SoFi cited Federal Reserve research estimating about $64 billion, roughly 21% of the stablecoin market, sits idle in inactive wallets. CEO Anthony Noto said the product combines bank deposit protections with digital asset utility.

SoFi Tokenized Deposit SOFIE Pays 4.40% With FDIC Cover