SoFi Debuts Tokenized Deposits With 4.40% Yield

Each SOFIE token represents one dollar held at SoFi Bank, N.A., ensuring that funds remain eligible for standard FDIC insurance up to $250,000. This structure differentiates the token from standard stablecoins, which typically lack such federal protections. Customers can convert their holdings into SoFiUSD at a one-to-one ratio to facilitate on-chain transactions or asset purchases. While the interest rate is variable, the product offers a yield-generating home for capital that might otherwise sit idle in crypto wallets.

CEO Anthony Noto framed the launch as a way to keep customer capital productive until the exact moment of a trade. The bank is rolling out the feature to eligible crypto account holders throughout November. This move follows the company’s recent expansion into blockchain-based settlement, including a system that integrates SoFiUSD into a $25 billion card program operated via Mastercard. By treating SOFIE as a formal deposit liability rather than a payment stablecoin, SoFi is navigating existing regulatory frameworks to bridge the gap between traditional banking and digital asset markets.