SoFi Launches Interest-Bearing Tokenized Deposit for Consumers

SoFi launched SoFi Earn, or SOFIE, on October 22 as an interest-bearing tokenized deposit for consumers. Each token represents one dollar held on deposit at SoFi Bank. The bank says the product pays a variable 4.40% annual percentage yield, a rate current as of October 20, 2026, and requires no minimum balance. Funds represented by SOFIE are eligible for FDIC insurance under the agency’s applicable rules and limits.

SOFIE is not a payment stablecoin. A member can convert it one-for-one into SoFiUSD, then use that stablecoin to buy crypto in the SoFi app or transfer it to a supported external wallet. The distinction matters: SOFIE is the interest-bearing bank liability, while SoFiUSD provides the blockchain transfer function. SoFi said access is rolling out to SoFi Crypto members through November.

Sources

• SoFi Technologies

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