SoFi Technologies Launches Interest-Bearing Tokenized Deposit Product 'SoFi Earn'
SoFi Technologies (SOFI) has announced the launch of SoFi Earn, a new consumer product featuring tokenized deposits. Each unit, referred to as SOFIE, represents $1 held in deposit at SoFi Bank and offers an annual percentage yield (APY) of 4.40%. The product is positioned as the first national bank-issued tokenized deposit available to consumers. These deposits are FDIC-insured up to applicable limits, providing a regulated bridge between traditional banking stability and blockchain-based asset representation.
Tickers: $SOFI
Topics: banking products digital assets interest rates tokenized deposits