# SoFi launch of SOFIE tokenized deposit product

> Live situation record from CLSTR: https://clstr.news/situations/sofi-launch-of-sofie-tokenized-deposit-product
> Updated: 2026-10-25T01:40:26.000Z. Sources: 17. Developments: 2.

In late October 2026, SoFi Technologies introduced SoFi Earn (SOFIE), a tokenized deposit product designed for cryptocurrency users. Each SOFIE token represents a $1 deposit held at SoFi Bank, N.A., and offers a variable 4.40% annual percentage yield (APY).

Structured as a bank deposit liability rather than a standard stablecoin, the product is eligible for FDIC insurance up to applicable limits. To facilitate blockchain utility, users can convert SOFIE at a one-to-one rate into SoFiUSD, the company’s existing stablecoin issued on the Ethereum and Solana blockchains.

This dual-token strategy is intended to comply with the GENIUS Act, which prohibits payment stablecoin issuers from paying interest directly to holders. By separating interest-bearing deposits from payment stablecoins, SoFi aims to provide the protections of a bank deposit alongside the speed of digital assets.

## Timeline

### 2026-10-25: SoFi launches SOFIE tokenized bank deposit product

SoFi has launched SoFi Earn (SOFIE), a tokenized bank deposit offering 4.40% APY and FDIC protection for digital assets.

3 sources. https://clstr.news/cluster/sofi-launches-sofie-tokenized-bank-deposit-product

### 2026-10-22: SoFi launches FDIC-insured tokenized deposit product

SoFi has launched SoFi Earn (SOFIE), a tokenized deposit offering 4.40% APY and FDIC insurance, which can be converted 1:1 into the SoFiUSD stablecoin for blockchain transactions.

12 sources. https://clstr.news/cluster/sofi-technologies-launches-tokenized-bank-deposit-product

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Cite as: SoFi launch of SOFIE tokenized deposit product. CLSTR, https://clstr.news/situations/sofi-launch-of-sofie-tokenized-deposit-product