SoFi Technologies has launched SoFi Earn (SOFIE), a new digital deposit product that allows users to earn 4.40% annual interest while keeping their money available for cryptocurrency purchases and blockchain transfers.
According to the company, SOFIE is the first tokenized deposit for consumers issued by a nationally chartered U.S. bank. The launch marks another step in SoFi’s efforts to combine traditional banking with blockchain technology.
Each SOFIE token represents $1 held in a deposit account at SoFi Bank. Users can earn a variable 4.40% annual percentage yield (APY), while their deposits are eligible for FDIC insurance of up to $250,000 under applicable rules.
Unlike many stablecoins, which generally do not pay interest or offer deposit insurance, SOFIE allows customers to earn interest on their digital dollars until they decide to use them.
When users want to buy cryptocurrency or transfer money, they can convert SOFIE into SoFiUSD, the company’s U.S. dollar stablecoin, at a 1:1 rate. They can then use SoFiUSD to purchase crypto through the SoFi app or send funds to supported blockchain wallets at any time.
For example, a customer holding $5,000 in SOFIE could earn interest while waiting to buy cryptocurrency. When ready, they can convert the funds into SoFiUSD and complete the transaction without first moving money through a traditional bank transfer.
SoFi CEO Anthony Noto said the product aims to help customers earn returns on money that would otherwise remain unused in digital wallets.
The company pointed to Federal Reserve research estimating that around $64 billion in stablecoins, representing 21.2% of the market, is held in inactive or rarely used wallets.
The SOFIE launch follows several other crypto-related developments at SoFi. In November 2025, the company introduced cryptocurrency trading for consumers, allowing users to buy, sell, and hold more than 40 cryptocurrencies.
A month later, SoFi launched SoFiUSD (SOFID), a U.S. dollar stablecoin designed for round-the-clock payments and blockchain settlement. The stablecoin is also being used to settle SoFi’s card transactions across Mastercard’s payment network.
Earlier in 2026, SoFi introduced Big Business Banking, allowing businesses to manage traditional deposits, stablecoins, and other digital assets through a single platform.
With the addition of SOFIE, SoFi is expanding its digital asset services by giving customers a way to earn interest on their funds before using them for crypto transactions.
SoFi Earn is rolling out to SoFi Crypto members from October through November 2026.
The company says the product is designed to make digital dollars more useful by combining the benefits of bank deposits with the flexibility of blockchain payments.
However, the 4.40% APY is variable and can change, while FDIC insurance applies to eligible SOFIE deposits, not to SoFiUSD or other cryptocurrencies.
The launch highlights growing interest among U.S. financial institutions in bringing traditional banking products into the digital asset market.
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