SoFi Launches SOFIE Tokenized Deposit With 4.4% APY

SoFi launched SOFIE, a tokenized deposit product offering 4.4% APY that members can convert 1:1 into its SoFiUSD stablecoin. Interest and FDIC insurance do not carry over once funds move into the stablecoin, so the yield applies only to the deposit form. The product shows a bank blending deposit accounts with tokenized settlement, a structure traders may watch as a template for yield-bearing on-chain cash.