CryptoMediumUpdated•Originally published 22 October 2026•Updated 22 October 2026•
1 min read
SoFi Launches SOFIE Tokenized Deposits with 4.4% Yield and FDIC Insurance
Key Facts
1SoFi launched SOFIE, a tokenized deposit offering 4.4% APY and FDIC insurance coverage.
2The new product allows users the option to convert tokenized deposits into SoFiUSD.
SoFi launched a new tokenized deposit product named SOFIE, offering a 4.4% annual percentage yield. Reuters reported that the offering includes FDIC insurance coverage, combining traditional banking security with digital asset innovation.
The new product provides users with the option to convert their tokenized deposits into SoFiUSD. This initiative aims to bridge the gap between traditional banking and crypto assets by providing secure, yield-bearing on-chain deposit solutions for retail users.
Latest Updates · 1
- Notable·
Update: SoFi is specifically targeting idle digital cash held in inactive wallets with its new offering. The company aims to convert these stagnant funds into interest-bearing deposits to expand its digital asset base.