SoFi SOFIE Tokenized Deposits Launch as National Bank Product

SoFi launched SoFi Earn, branded SOFIE, on October 22, 2026. The product lets eligible customers hold tokenized deposits at SoFi Bank, N.A., a national bank chartered by the Office of the Comptroller of the Currency and member of the FDIC. Each SOFIE token equals one U.S. dollar on deposit and carries a variable annual percentage yield of 4.40 percent as of October 20, 2026.

SoFi SOFIE Tokenized Deposits Mechanics and User Access

SOFIE functions as an interest-bearing bank deposit rather than a payment stablecoin. Interest accrues daily and compounds monthly with no minimum balance required. Funds remain aggregated with other SoFi Bank deposits for FDIC coverage up to the standard $250,000 limit per depositor, per insured bank, per ownership category. Members reach the product through the existing SoFi Crypto account in the mobile app.

Users can convert SOFIE tokens 1:1 into SoFiUSD, the company’s non-interest-bearing stablecoin, for purchasing crypto inside the app or for 24/7 transfers to supported external wallets. Once converted, the amount loses deposit status, interest payments, and FDIC protection. SOFIE itself does not move on public blockchains outside the SoFi environment. Fees may reduce earnings, and the yield remains variable.

The offering marks SoFi’s fifth crypto-related product released within a twelve-month period. Earlier steps included the relaunch of consumer crypto trading in November 2025 and the introduction of SoFiUSD in December 2025, which became available for card settlements by May 2026.

Regulatory Context and Market Positioning

SoFi positions the tokenized deposit as a regulated alternative to idle stablecoin holdings. Company statements reference Federal Reserve data estimating roughly $64 billion, or 21 percent, of the stablecoin market sits in inactive wallets. The product follows the GENIUS Act, which prohibits stablecoin issuers from paying interest, and recent Office of the Comptroller of the Currency guidance on bank-issued tokenized deposits.

CEO Anthony Noto stated that too much capital in the digital asset ecosystem remains idle and that deposits should continue earning returns until needed. SOFIE is described officially as the first and only national bank-issued tokenized deposit available to consumers. It differs from payment stablecoins by maintaining full bank deposit characteristics while allowing limited on-platform conversion.

Industry observers note that the structure keeps assets inside a federally insured bank balance sheet while offering digital transfer features for trading activity. SoFi has not announced plans for external on-chain movement of SOFIE tokens or expansion beyond its crypto platform at this stage.

Rollout Schedule and Expected Availability

Access began October 22, 2026, on a phased basis for existing SoFi Crypto members. The company expects to complete the rollout to all eligible users by the end of November 2026. Balances held in SOFIE may appear in the company’s upcoming quarterly earnings report covering the third quarter, expected in late October 2026.

SoFi has not released further details on additional features, broader customer segments, or integration with its Big Business Banking platform. The product remains available only through the crypto section of the app and requires an active SoFi Bank relationship.