Company Update
SoFi launches SOFIE tokenized deposit paying 4.4% annual yield
SoFi introduced SOFIE, a tokenized deposit that offers a variable 4.4% annual return and FDIC insurance, with each token representing $1 on deposit at SoFi Bank. Users can convert SOFIE 1:1 to the SoFiUSD stablecoin for crypto purchases, though conversion ends interest and insurance. The rollout to SoFi Crypto members runs through November, and the product joins SoFi's suite of stablecoin, settlement, and card services launched over the past year.