SoFi Launches Tokenized Deposit That Earns 4.4% and Converts to a Stablecoin

Decrypt · Thu, 22 Oct 2026 12:01:03 GMT

Hype 20/100 · Market impact 30/100 · Breaking 49/100

Tags: STABLECOIN

SoFi's new SOFIE token is backed by $1 bank deposits at SoFi Bank and pays 4.40% annual percentage yield while carrying FDIC insurance, a combination of return and protection that ordinary stablecoins do not offer.

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