SoFi Technologies announced SoFi Earn (SOFIE), described as the first national bank-issued tokenized deposit for consumers. Members earn interest on digital dollars while keeping funds ready to use—SoFi’s fifth new crypto offering in less than a year.
Each SOFIE represents $1 held on deposit at SoFi Bank, earning 4.40% APY with FDIC insurance up to applicable limits. Members can convert SOFIE 1:1 to SoFiUSD to buy crypto in-app or move money on blockchain rails 24/7.
CEO Anthony Noto said too much money in digital assets sits idle; Fed research cited ~$64B (21.2% of stablecoin market) in rarely used wallets. SOFIE contrasts with many stablecoins that pay no interest and lack FDIC coverage.
SoFi previously launched national-bank crypto trading (Nov 2025), SoFiUSD stablecoin (Dec 2025) used for Mastercard card settlement, and Big Business Banking for fiat and digital assets. Example use case: save $5,000 in SOFIE while waiting to buy crypto, then convert to SoFiUSD for purchase or external wallet transfer.