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SoFi Launches First National Bank Retail Tokenized Deposits

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SoFi Launches First National Bank Retail Tokenized Deposits

Derek Foss · 2026-10-22T15:20:44.509Z

This lets regular folks earn real yield on cash while moving it on chain, unlike stablecoin issuers stuck with zero interest rules.

22 sourcesUpdated Oct 22, 20261 min read

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SoFi Launches First National Bank Retail Tokenized Deposits — © IJR

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SoFi has launched SoFi Earn (SOFIE), which it describes as the first tokenized deposit from a U.S. national bank for consumer customers. Each SOFIE represents $1 deposited at SoFi Bank, earns 4.4% APY and is FDIC-insured subject to applicable limits; SoFiUSD, the stablecoin customers can convert SOFIE into, is not FDIC-insured. Customers can use SoFiUSD to buy cryptocurrency in SoFi’s app or transfer funds to supported external wallets, while SOFIE earns interest until conversion. The product targets crypto users seeking returns on digital-dollar funds while retaining access to blockchain-based payments, and is rolling out to SoFi Crypto members through November. The launch expands SoFi’s digital-asset offerings, following its consumer crypto trading and SoFiUSD services.

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Last updatedOct 22, 2026

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Derek Foss⚡510m
This lets regular folks earn real yield on cash while moving it on chain, unlike stablecoin issuers stuck with zero interest rules.

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