Sofi Debuts Tokenized Bank Deposits for Crypto Funds and Retail Users

WHO:

Cointelegraph - SoFi Bank launched SoFi Earn.

IJR - SoFi launched SoFi Earn as a retail tokenized bank deposit.

IJR - SoFiUSD is the token customers can use for crypto purchases or blockchain transfers.

IJR - Stablecoin issuers are barred from paying interest under federal law.

WHAT:

Cointelegraph - SoFi Earn is a tokenized deposit paying 4.40% APY.

Cointelegraph - SoFi Earn has FDIC coverage and lets users convert funds into stablecoins.

IJR - SoFi Earn pays about 4.4% interest and is FDIC-insured within applicable limits.

IJR - Customers can convert the deposit into SoFiUSD for crypto purchases or blockchain transfers.

IJR - The offering positions a regulated bank deposit as an interest-bearing alternative to stablecoins.

HOW:

Cointelegraph - Users can convert funds into stablecoins 24/7.

IJR - Customers can use SoFiUSD to make crypto purchases or blockchain transfers.

(UPDATED October 22, 2026 16:21 UTC)

SoFi Bank has launched SoFi Earn, an interest-paying tokenized deposit designed to bridge traditional banking and crypto. The account pays 4.40% annual percentage yield and is covered by FDIC insurance within applicable limits. Customers can convert their deposits into SoFiUSD, a token they can use to buy cryptocurrency or transfer funds on a blockchain. Those conversions are available around the clock. The offering gives customers access to blockchain payments while keeping their funds in an interest-bearing bank deposit. That sets it apart from stablecoins, whose issuers are barred under federal law from paying interest. SoFi Earn therefore combines a bank deposit’s interest and applicable deposit protection with the ability to move value through crypto networks.