SoFi has launched SoFi Earn, a tokenized bank deposit that pays 4.40% annual percentage yield and can be converted one-to-one into the company’s SoFiUSD stablecoin. The product is aimed at customers holding digital dollars who want blockchain-based transfer capabilities while retaining interest earnings and deposit insurance.
How SoFi Earn works
Trading under the ticker SOFIE, each token represents $1 deposited with SoFi Bank. Customers earn a 4.40% annual percentage yield on the balance, while the funds are insured by the Federal Deposit Insurance Corporation up to applicable limits.
That insurance is a key difference between SOFIE and ordinary stablecoins. Stablecoins are digital tokens generally designed to maintain a value linked to a traditional currency, such as the U.S. dollar, but the source material notes that many do not pay interest or provide bank-deposit insurance.
When customers want to use their funds, they can convert SOFIE into SoFiUSD at a one-to-one rate. The resulting stablecoin can be used to purchase cryptocurrency through the SoFi app or transfer dollars over blockchain networks around the clock.
According to Decrypt, SoFi is presenting the product as a solution for digital dollars that might otherwise remain unused. The company cited Federal Reserve research estimating that about $64 billion, equivalent to roughly 21% of the stablecoin market, is held in forgotten or inactive wallets.
SoFi expands its digital-asset offering
SoFi Earn is the company’s fifth crypto-related product launched in less than a year. It follows SoFi’s return to cryptocurrency trading in late 2025, when the company became the first nationally chartered U.S. bank to offer crypto trading to consumers. Customers can now trade more than 40 tokens, according to the source material.
SoFi also launched SoFiUSD, described as the first stablecoin issued by a U.S. national bank. The token operates on the Ethereum and Solana blockchains and is used to settle SoFi’s entire card program over Mastercard’s network.
The company has additionally expanded into business banking for digital assets and entered a stablecoin partnership involving cryptocurrency exchange Kraken. Together, these moves show SoFi’s effort to connect conventional banking services with blockchain-based payments and trading.
Why the launch matters
SoFi is combining two features that are often separate in digital finance: the interest and protections associated with a bank deposit, and the speed and transferability of a blockchain token. CEO Anthony Noto said too much money in the digital-asset ecosystem is idle, adding that the product is intended to pair the “earning power and protections of a bank deposit” with the “speed and utility of digital assets.”
Moneyiar market data recorded at 23:24 on October 22, 2026, showed Stable at $0.0256085067, down 2.46% over 24 hours and 6.10% over seven days. Sentient was $0.0216323556, down 5.05% in 24 hours but up 3.27% over seven days. At 23:23, ORDI stood at $3.7174183469, down 5.62% over 24 hours and 5.46% over seven days, while Comedian was $0.057254674, down 3.75% daily and up 6.39% weekly.
