SoFi

SoFi

2026-10-24 03:01:30

SoFi launches 4.4% FDIC-insured tokenized deposit product for retail customers

SoFi has introduced SoFi Earn, or SOFIE, a yield-bearing tokenized deposit product that offers a 4.4% annual percentage yield and FDIC insurance within applicable limits. The company said the launch makes it the first U.S. nationally chartered bank to offer tokenized deposits directly to individual customers. Each SOFIE token represents $1 held in a SoFi Bank account and can be accessed through the SoFi Crypto platform. Users can convert SOFIE 1:1 into the SoFiUSD stablecoin to buy cryptocurrencies or transfer funds around the clock to supported external wallets. Deposits continue earning interest until conversion, while SoFiUSD itself is not covered by FDIC insurance. The rollout follows SoFi’s earlier crypto trading launch, the release of SoFiUSD, and its integration of the stablecoin into its consumer banking app. The company said it expects to complete distribution to all crypto members in November. The product arrives as banks and policymakers continue to debate whether yield-bearing stablecoins and similar instruments could pull deposits away from the traditional banking system.

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SoFi

2026-10-23 10:24:30

SoFi rolls out 4.40% tokenized deposits as banks chase idle stablecoin cash

SoFi has begun a phased rollout of SoFi Earn to eligible SoFi Crypto users, introducing a tokenized deposit product called SOFIE that represents $1 held in a SoFi Bank account for each token. According to the company’s disclosure, eligible users can receive a 4.40% annual percentage yield, then convert SOFIE 1:1 into the dollar stablecoin SoFiUSD to buy crypto in the SoFi app or move funds to supported external wallets. The product draws a clear legal line between tokenized bank deposits and stablecoins. SoFi says SOFIE is a tokenized bank deposit tied to SoFi Bank deposit liabilities, while SoFiUSD is a dollar stablecoin built for payments and transfers. That distinction matters because SOFIE may earn interest and, if requirements are met, qualify for FDIC deposit insurance, while SoFiUSD is not a bank deposit and does not carry FDIC insurance. The launch also points to a broader shift in competition across digital dollars. The focus is no longer only on issuance, liquidity, and exchange access. Banks and stablecoin issuers are now competing over who can retain customer cash when it is sitting idle, and who can offer a smoother path between yield, transfers, and crypto market access under evolving U.S. rules, including the GENIUS Act and the FDIC’s 2026 proposal on tokenized deposits.

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SoFi

2026-10-22 12:04:27

SoFi launches tokenized deposit SOFIE with 4.40% APY and 1:1 conversion to SoFiUSD

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.

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SoFi

2026-10-22 12:06:50

SoFi launches SOFIE tokenized deposit with 4.4% yield and FDIC coverage limits

SoFi Technologies has introduced SoFi Earn, a tokenized deposit product trading under the ticker SOFIE, according to The Block. The product offers a 4.4% annual percentage yield and is covered by Federal Deposit Insurance Corporation insurance within applicable limits. SoFi said the launch marks the first time a U.S. national bank has offered tokenized deposits directly to retail customers. Each SOFIE token represents $1 on deposit at SoFi Bank. Members can convert SOFIE 1:1 into the stablecoin SoFiUSD through SoFi Crypto, then use those funds to buy cryptocurrencies or move them at any time to supported external wallets. SoFi said deposits continue earning interest until conversion. Once converted, however, SoFiUSD is not an FDIC-insured deposit, in line with other stablecoins. The company expects a full rollout to crypto members in November. SoFi said it launched consumer crypto trading in November 2025, later introduced SoFiUSD, and added it to its consumer app in May this year. SoFi Crypto currently supports trading in more than 40 digital assets. CEO Anthony Noto said the goal is to let customer funds keep generating yield before they are used, while combining the yield and protections of bank deposits with the speed and utility of digital assets.

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SoFi

2026-10-08 10:55:54

SoFi launches SoFiUSD card settlement on Mastercard network

Fintech company SoFi has introduced card settlement support for its stablecoin, SoFiUSD, on the Mastercard network, according to Techub, which cited Crypto Briefing. The company said the feature is designed to improve transaction efficiency. SoFi also expects the service to handle more than $25 billion in stablecoin transactions on an annual basis. The update centers on payment settlement infrastructure tied to Mastercard’s network and marks a new use case for SoFiUSD in card-based transaction flows. No additional rollout details were disclosed in the source item.

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stablecoins

2026-09-18 00:41:45

Consortium of 21 global banks targets 2027 launch for U.S. dollar stablecoin

A group of 21 financial institutions, including Bank of America, Citigroup, Goldman Sachs and Deutsche Bank, has committed to form a new company in the second half of 2026 to issue a stablecoin, according to Techub, citing BeInCrypto. The alliance plans to roll out a U.S. dollar stablecoin in the first half of 2027, followed by a euro-denominated version. It said the products will be structured to comply with the GENIUS Act and the Markets in Crypto-Assets framework, or MiCA. The report also points to broader bank activity in the sector: SoFi opened its SoFiUSD stablecoin to nearly 15 million in-app members in May, JPMorgan is running its JPMD deposit token on Base, and HSBC plans to launch a Hong Kong dollar stablecoin in the second half of 2026. StraitsX CEO Liu Tianwei said stablecoin issuance gives banks a way to stay relevant as financial infrastructure changes, while faster and cheaper settlement could pressure traditional banking revenue, especially in cross-border payments.

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SoFi

2026-09-03 14:28:08

SoFi plugs into Kraken as bank settlement, stablecoins and trading liquidity move onto shared rails

SoFi Technologies and Payward, the parent company of Kraken, have announced a strategic partnership built around direct infrastructure integration rather than parallel expansion into each other’s core business. Under the agreement, Payward will join the SoFi Exchange Network, giving it access to 24/7 real-time U.S. dollar settlement. Kraken will also list SoFiUSD, a stablecoin issued directly by SoFi Bank, N.A., while SoFi will route part of its crypto order flow through Kraken Prime to improve execution for the 15.8 million users of the SoFi app through smart order routing across multiple venues. Kraken’s institutional clients, in turn, will gain access to SoFi’s Big Business Banking services, and the two sides said they plan to expand into qualified custody later on. The arrangement ties together bank deposits, on-chain settlement assets and exchange liquidity in a single framework. It also points to a broader shift in digital asset infrastructure: banks and crypto platforms are no longer trying to become each other, but are instead linking the systems they have already spent years building.

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SoFi

2026-09-03 12:06:23

SoFi and Kraken Partner to Interconnect Financial Infrastructure

Digital bank SoFi and crypto exchange Kraken have announced a partnership to integrate their financial infrastructures. Kraken's parent company Payward will join SoFi's SEN settlement network, enabling 24/7 dollar transfers for institutional clients. Kraken will list SoFi's bank-issued stablecoin SoFiUSD, and SoFi will use Kraken Prime as an additional liquidity source for crypto trades. The deal marks SoFi's return to digital assets, with potential future expansion into payments, treasury management, and lending.

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