SoFi launches interest-bearing, FDIC-insured tokenized deposit for crypto users

SoFi launched SOFIE, a tokenized deposit product aimed at crypto users that pays 4.4% APY and carries FDIC insurance, with an option to convert holdings into SoFiUSD. The offering blends a stable, insured yield with tokenized on-chain access, a structure that could draw yield-seeking crypto holders toward regulated banking products. Traders should watch whether similar insured tokenized deposits from other banks follow, since that would shift where stablecoin-adjacent yield sits.