SoFi’s tokenized deposit pays 4.40% APY on dollars ready for crypto

SoFi’s tokenized deposit product, SoFi Earn (SOFIE) , launched on October 22, 2026, offering consumers 4.40% APY on digital dollars held at SoFi Bank. SoFi describes it as the first consumer tokenized deposit issued by a national bank, combining deposit insurance with the ability to convert funds into a stablecoin for crypto purchases and blockchain transfers. Key takeaways Each SOFIE represents a $1 bank deposit. SOFIE earns 4.40% APY, with FDIC coverage subject to applicable limits. Members can exchange SOFIE for SoFiUSD at a 1:1 ratio. The rollout runs through November 2026.