New Web Product
SoFi Launches Tokenized Deposit with 4.4% APY and FDIC Insurance
SoFi Bank has launched SoFi Earn, a tokenized deposit product that trades under the ticker SOFIE. Each SOFIE token represents $1 on deposit at SoFi Bank and earns 4.40% annual percentage yield (APY) with FDIC insurance. The product combines the earning power and protections of a bank deposit with the speed and utility of digital assets, targeting idle stablecoin balances in consumer wallets.