Fintech firm SoFi has launched SoFi Earn, or SOFIE, describing it as the first tokenized deposit issued by a U.S. national bank for consumers. Each SOFIE represents $1 held in a SoFi Bank deposit account, and holders can earn a 4.40% annual percentage yield. The funds are also covered by Federal Deposit Insurance Corporation insurance within applicable limits, according to the company.
Users can convert SOFIE to SoFiUSD on a 1:1 basis. From there, they can buy cryptocurrencies inside the SoFi app or move dollars around the clock over blockchain networks. SoFi said the product is designed to let digital dollars keep earning before they are spent.
The launch marks SoFi’s fifth crypto product introduced in less than a year. The company resumed cryptocurrency trading in late 2025 and now supports trading in more than 40 tokens. Its stablecoin, SoFiUSD, is already live on Ethereum and Solana and is used to settle all of SoFi’s card programs.
Fintech company SoFi has launched SoFi Earn, or SOFIE, and said it is the first tokenized deposit issued by a U.S. national bank for consumers.
According to SoFi, each SOFIE represents $1 held in a SoFi Bank deposit account. Holders can earn a 4.40% annual percentage yield, and the funds are insured by the Federal Deposit Insurance Corporation within applicable limits.
Users can convert SOFIE into SoFiUSD at a 1:1 ratio. They can then use the token inside the SoFi app to buy cryptocurrencies or transfer dollars 24/7 through blockchain networks. SoFi said the product is meant to keep digital dollars earning yield before they are used.
SoFi Earn is the company’s fifth crypto product launched in less than a year. SoFi resumed cryptocurrency trading in late 2025 and currently supports trading in more than 40 tokens. Its SoFiUSD token has been deployed on Ethereum and Solana and is used to settle all of SoFi’s card programs.
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