SoFi Bank is rolling out SoFi Earn (SOFIE), a tokenized deposit for its crypto members, making it the first US national bank to offer tokenized deposits to individual consumers.

Each SOFIE token represents $1 held at SoFi Bank, is FDIC-insured within applicable limits and earns interest until it is converted. Holders can swap it 1:1 into the SoFiUSD stablecoin 24/7 through SoFi Crypto to buy any of 40+ supported assets or send funds to external wallets.

SOFIE pays 4.4% APY, while SoFiUSD itself carries no FDIC coverage.

The launch extends a stablecoin push that began with SoFiUSD in December 2025. Since September 2026, SoFi has also settled card transactions in SoFiUSD on Mastercard's network, a program expected to exceed $25B in annualized volume. Rollout to all crypto members is expected to finish in November.