--- title: "SoFi Launches Tokenized Deposit Yielding 4.40% for Retail Customers" description: "SoFi Earn provides FDIC-insured tokenized bank deposits that convert 1:1 into the bank's SoFiUSD stablecoin." url: https://basisdesk.news/news/sofi-launches-tokenized-deposit-sofie-apy published: 2026-10-22T15:21:46.062Z modified: 2026-10-22T15:21:46.062Z section: Institutions & ETFs author: Basis Desk Newsroom (AI-generated, source-verified) sentiment: bullish tickers: [BTC, ETH] tags: [tokenized-deposits, sofi, stablecoins, banking, fdic, crypto-yield] license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice. --- # SoFi Launches Tokenized Deposit Yielding 4.40% for Retail Customers SoFi Earn provides FDIC-insured tokenized bank deposits that convert 1:1 into the bank's SoFiUSD stablecoin. ## At a glance - **What happened:** SoFi introduced SoFi Earn, a tokenized retail deposit yielding 4.40% APY that converts into SoFiUSD stablecoins [1]. - **Why it matters:** The product introduces federally insured, interest-bearing bank balances directly into digital asset rails, challenging yieldless stablecoins [1]. - **Who is affected:** SoFi retail crypto users and depositors at SoFi Bank [1]. - **Takes effect:** 2026-10-22 - **What's next:** Rollout of the product to SoFi Crypto account holders runs through November 2026 [1]. - **Status:** in-effect - **Primary source:** [SoFi Launches SoFi Earn (SOFIE), the First and Only National Bank-Issued Tokenized Deposit for Consumers](https://investors.sofi.com/news/news-details/2026/SoFi-Launches-SoFi-Earn-SOFIE-the-First-and-Only-National-Bank-Issued-Tokenized-Deposit-for-Consumers/default.aspx) — investors.sofi.com ## Key points - SoFi debuted SoFi Earn (SOFIE), an FDIC-insured consumer tokenized deposit paying a 4.40% variable APY [1]. - Balances convert 1:1 into SoFiUSD stablecoins for onchain transactions or cryptocurrency purchases [1]. - Rollout across SoFi's 15.8 million user base extends through November 2026 [1]. ## Editorial remark - **Context:** SoFi's introduction of SOFIE builds directly on its December 2025 issuance of SoFiUSD, which serves as settlement infrastructure across Mastercard payment channels [1]. - **Impact:** Retail depositors gain access to interest-bearing, insured tokenized balances, contrasting with zero-yield, uninsured fiat stablecoins dominating decentralized finance [1]. - **Watch:** Full completion of the retail rollout to all SoFi Crypto members across November 2026 [1]. SoFi Technologies launched SoFi Earn (SOFIE) on Oct. 22, introducing a consumer-facing tokenized deposit issued by a national bank [1]. The product offers a 4.40% annual percentage yield backed by FDIC insurance up to the standard $250,000 threshold [1]. Each SOFIE unit represents $1 deposited at SoFi Bank, N.A., an institution chartered under the Office of the Comptroller of the Currency [1]. Depositors can convert SOFIE at parity into SoFiUSD, the bank's proprietary stablecoin launched in December 2025 [1]. Users can then transfer SoFiUSD onto external blockchain networks around the clock or use the balances to trade digital assets, such as $BTC or $ETH, directly inside the SoFi application [1]. At the time of writing, $BTC traded at $81,527, down 3.2% over 24 hours, amid broader market contraction. ## Bridging Banking and Stablecoin Liquidity The product aims to capture returns on idle balances within digital asset ecosystems [1]. Citing Federal Reserve research, SoFi stated that approximately $64 billion—representing 21.2% of the aggregate stablecoin supply—sits unutilized in inactive wallets without yielding interest or carrying deposit protection [1]. By structuring SOFIE as a deposit liability rather than a payment stablecoin, the bank provides interest accrual alongside federal deposit guarantees, diverging from conventional dollar-pegged tokens [1]. The initiative follows wider industry efforts to merge traditional balance sheets with onchain rails, mirroring developments such as [Jack Henry's integration of tokenized deposits](https://basisdesk.news/news/jack-henry-google-cloud-universal-ledger-tokenized-deposits) for regional lenders. SoFi previously enabled retail cryptocurrency trading across more than 40 assets in November 2025 and introduced an enterprise banking suite earlier in 2026 [1]. SoFiUSD already handles transaction settlements for SoFi's credit card portfolio across Mastercard's payments network [1]. SoFi is rolling out SOFIE to its SoFi Crypto customer base through November 2026 [1]. ## FAQ **Is SoFi Earn a stablecoin?** No. SOFIE is a tokenized bank deposit representing a deposit liability of SoFi Bank, N.A., making it eligible for FDIC insurance up to $250,000, unlike payment stablecoins [1]. **How does SOFIE interact with crypto trading?** Users can hold SOFIE to earn 4.40% APY and convert funds 1:1 into SoFiUSD whenever they want to trade crypto or transfer funds onchain [1]. ## Sources 1. [SoFi Launches SoFi Earn (SOFIE), the First and Only National Bank-Issued Tokenized Deposit for Consumers](https://investors.sofi.com/news/news-details/2026/SoFi-Launches-SoFi-Earn-SOFIE-the-First-and-Only-National-Bank-Issued-Tokenized-Deposit-for-Consumers/default.aspx) — investors.sofi.com, 2026-10-22 --- Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai