SOFID
+0.0%SoFi launches tokenized deposit featuring bank interest and insurance
Image: DecryptSoFi Bank has launched a tokenized deposit product named SOFIE. Each token represents one dollar held on deposit at SoFi Bank. Holders can earn an annual percentage yield and receive FDIC-insured coverage up to applicable limits. Users can convert SOFIE tokens into the SoFiUSD stablecoin to execute transactions or trade digital assets within the application.
Key points
- SoFi Bank launched a tokenized deposit product known as SOFIE or SoFi Earn.
- Each SOFIE token represents one dollar held on deposit at SoFi Bank.
- Holders can convert SOFIE tokens into the SoFiUSD stablecoin.
- SOFIE balances qualify for FDIC insurance up to applicable limits.
Why it matters
The product connects traditional bank deposits with digital asset rails, allowing users to earn interest on funds while maintaining the ability to convert into a stablecoin for blockchain transactions.
Price context · SOFID
At publication
$0.9994
Now
$0.9992
Change since
−0.02%
7 days
Sources · 6 publishers
Decrypt
Tier 1
SoFi Launches Tokenized Deposit That Earns 4.4% and Converts to a Stablecoin
Crypto Briefing
Tier 2
SoFi launches SOFIE, a tokenized deposit that comes with FDIC insurance
The Defiant
Tier 1
SoFi Launches SOFIE Tokenized Deposit With 4.4% APY
Crypto.news
Tier 2
SoFi launches tokenized bank deposit offering 4.40% APY
Unchained
Tier 1
SoFi Launches an Interest-Bearing Tokenized Deposit That Converts Into Its SoFiUSD Stablecoin
Crypto Briefing
Tier 2
SoFi launches tokenized bank deposits offering 4.4% yield and FDIC insurance
Coverage timeline
- First reported by The Block
- Also reported by Decrypt
- CryptoVideos brief published
- 3 more publishers added to sources
How this page is checked. AI drafted this brief from selected independent reports. Automated checks compare numbers, source coverage and topic terms, but may miss errors. Publication and evidence refreshes run automatically. Read the linked reports for context. Report an error
