SoFi Launches 4.40% APY Tokenized Deposit With FDIC Cover and 24/7 Crypto Access

Key Takeaways:

• SoFi launched a variable 4.40% APY tokenized bank deposit service named SOFIE.
• Each SOFIE signifies $1 deposited with SoFi Bank and is eligible for FDIC insurance up to a limit.
• Users can use SOFIE 1:1 to get SoFiUSD, and then purchase and transact onchain all day.

SoFi is adding an interest-bearing layer to its crypto ecosystem with SOFIE, a tokenized deposit designed to keep digital dollars earning before users deploy them into crypto or blockchain payments.

The creation is a regulated bank deposit cum direct mixing with the bank’s dollar connected stablecoin, SoFiUSD.

SOFIE Pays 4.40% While Funds Stay in the Bank

There are $1,000 in each SOFIE. The check currently yields 4.40% annual percentage yield, although the minimum balance is not specified. The rate will vary over the course of time. In contrast to most crypto assets, SOFIE is not a payment stablecoin, but rather the deposit liability of SoFi Bank.

But that’s key as funds held by SOFIE are insured against loss through the FDIC, to the extent of applicable coverages, including the standard $250,000 per depositor per insured bank per ownership category coverage.

SoFi claims the product is for people that wish to create dollars ready for crypto sales, however non-accruing them sitting idle.

Read More: SEC Clears Path for Tokenized Stocks With 5-Year Onchain Trading Exemption

SOFIE and SoFiUSD Serve Different Jobs

SOFIE is designed to accrue interest. SoFiUSD is designed to transfer money. If users choose to deploy their funds, they can turn their SOFIE into SoFiUSD at a 1:1 ratio. SoFiUSD can be then used to buy cryptocurrencies directly from within the SoFi app or directly to any of the wallet options supported by blockchain rails at any time.

This way, users can get rewarded for their balances first, and then enter a stablecoin once placed onchain to find liquidity. SoFi reiterated that sofiUSD is not insured by the FDIC, nor are other digital assets.

SoFi Targets Billions in Idle Digital Dollars

The business is building SOFIE as an alternative to inactive balances of stablecoins. The research by the Federal Reserve, which SoFi referenced, suggested that around $64 billion (21.2%) of the market for stablecoins was stored in rarely used or inactive or forgotten wallets.

A user who may want to invest $5,000 into crypto may be able to probably put the cash in a SOFIE account where they accrue interest until they’re prepared to participate in a trade. At that time, the balance can be switched to crypto without needing to exit the SoFi ecosystem first to be converted into SoFiUSD.

Read More: Blockchain.com and NYSE Target 24/7 Tokenized Stocks for 44 Million Crypto Accounts

SoFi Builds a Bank-to-Blockchain Pipeline

It is SoFi’s fifth product launch regarding cryptocurrencies launched in under one year. In November 2025, the bank launched consumer crypto trading and now has over 40 cryptocurrencies available.

It introduced SoFiUSD for the 24/7 dollar movement and settlement a month later. The stablecoin is already leveraged by SoFi for settlements in its card program across Mastercard’s network worldwide, SoFi says.

The company is also introducing digital asset services for businesses, so corporate entities can provide and oversee fiat currency, stablecoin payments and other digital assets under one regulated entity.

SOFIE now adds an interest-bearing entry point to that system, letting customers earn on bank deposits before moving the same value into blockchain-based payments or crypto markets.

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