SoFi launches yield-bearing tokenised bank deposits
- SoFi Technologies has launched SoFi Earn, a tokenised bank deposit designed to pay consumers variable yield.
- The product offers a 4.40% annual percentage yield and uses blockchain technology to represent bank deposits.
- Eligible deposits carry Federal Deposit Insurance Corporation protection within applicable limits, while users can convert SoFi Earn into SoFiUSD for crypto purchases or blockchain transfers.
SoFi Technologies, Inc. (NASDAQ:SOFI) has launched SoFi Earn (SOFIE), a tokenised bank deposit offering a variable 4.40% annual percentage yield (APY).
Each SOFIE represents US$1 deposited at SoFi Bank, with eligible funds covered by FDIC insurance up to applicable limits.
“We believe your money should keep working for you until the moment you need it,” SoFi CEO Anthony Noto said in a statement.
Users can convert SOFIE into SoFiUSD at a one-to-one rate, then purchase cryptocurrency or transfer funds through blockchain networks.
SoFi Earn differs from payment stablecoins because it represents an interest-bearing bank deposit rather than a stablecoin.
The launch adds to SoFi’s digital-asset services, following its consumer crypto trading launch in November 2025 and SoFiUSD in December 2025.
SoFi says its platform supports trading in more than 40 cryptocurrencies, while its digital money products connect banking services with blockchain transfers.
Following the announcement, SoFi Technologies (SOFI) shares were down 0.87% at US$14.77.
