SoFi announced SoFi Earn (SOFIE), a tokenized consumer bank deposit offering 4.40% APY, on October 22, 2026. Access is being introduced gradually through November. The deposit has FDIC insurance within applicable limits; SoFiUSD, the separate stablecoin customers can receive by converting SOFIE at a one-to-one rate, is not the underlying insured deposit.
Each SOFIE represents $1 held at SoFi Bank. SoFi cited Federal Reserve research estimating that $64 billion in stablecoins sits in inactive, forgotten or rarely used wallets.
