SoFi has issued a token that pays 4.40% a year and is FDIC-insured. It is called SOFIE. For anyone sitting on dollars in stablecoins that earn nothing, it is a direct offer to move the money somewhere it at least works.
What exactly launched
US-based SoFi Bank announced a product called SoFi Earn. Its token trades under the ticker SOFIE, and each token equals one dollar held on deposit at the bank. According to Decrypt, the company calls it the first tokenized deposit from a national bank aimed at ordinary customers.
The yield is 4.40% APY. Funds are FDIC-insured up to the applicable limits, so the same rules apply as for a regular account. Stablecoins have no such cover.
Users do not have to pick between blockchain speed and bank guarantees. The token sits, interest accrues, and when the money is needed it can move.
How it differs from a stablecoin
A regular stablecoin rests on the issuer's reserves. Holders usually get no interest, and deposit insurance does not apply. So plenty of people just park money there and wait.
SoFi points to research from the US Federal Reserve. It estimates that about $64 billion, or roughly 21% of the stablecoin market, sits in forgotten or inactive wallets. That is a huge pile earning nothing, and SOFIE is aimed squarely at it.
CEO Anthony Noto put it this way in the company's statement: too much money in digital assets sits idle, and the new product pairs the earnings and protections of a bank deposit with the speed of digital assets. It sounds like a slogan, but the logic is clear.
How money leaves the token
The next step is simple. A customer converts SOFIE one to one into SoFiUSD, the bank's own stablecoin. From there, there are three paths.
- Buy crypto right inside the SoFi app.
- Send dollars over a blockchain at any hour, weekends included.
- Switch back into SOFIE if the money should start earning again.
SoFiUSD runs on Ethereum and Solana. The bank also already settles its entire card program with it over the Mastercard network. So this is no lab experiment but a token already moving in real payments.
The fifth crypto product in a year
SOFIE is SoFi's fifth crypto product in under a year. In late 2025 the company returned to crypto trading, which it had left earlier, and became the first national US bank to offer it to customers. More than 40 tokens are available now.
Then came SoFiUSD, the first stablecoin issued by a US national bank. Separately, SoFi launched business banking for digital assets and struck a stablecoin tie-up with the exchange Kraken.
The pace is plain to see. Banks and fintechs are racing to fold blockchain dollars into regulated products, and SoFi clearly does not plan to trail that queue.
What stays off the page
The 4.40% rate is not guaranteed forever, it is the current yield. FDIC insurance has limits, and for large sums it will not cover everything. Terms for customers outside the US are unclear from the reports.
The bigger point is elsewhere. Stablecoins and bank deposits lived apart for a long time, and SOFIE puts them side by side. If customers like the mix of interest and speed, similar tokens will show up at other banks fast. The next few months will show whether that happens.
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