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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, remains FDIC-insured subject to applicable limits, and earns interest until any conversion. The product is rolling out to SoFi Crypto members through November. Customers may convert SOFIE into SoFiUSD, a stablecoin that is not FDIC-insured. SoFiUSD can be used to buy cryptocurrency inside SoFi’s app or transferred to supported external wallets. The offering targets crypto users seeking returns on digital-dollar funds while keeping access to blockchain-based payments, and it expands SoFi’s existing consumer crypto trading and SoFiUSD services. CONTESTED: The wire summary states SOFIE earns 4.4% APY; Fortune Magazine cites 4.2% interest. No other factual disputes appear in the record. The rollout continues through November.

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Derek Foss⚡5Oct 22, 2026
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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Tesla launched Robotaxi service in San Antonio, its fifth Texas city, while Austin service expanded to 21 hours a day, from 5 a.m. to 2 a.m. The Austin change leaves a three-hour overnight pause as Tesla works toward its stated goal of round-the-clock operations by the end of 2026.

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