SoFi launches tokenized deposit paying 4.40% APY with FDIC insurance
AI summary
SoFi launched SoFi Earn (SOFIE), a tokenized consumer bank deposit paying 4.40% APY with federal deposit insurance. Customers can earn interest while preparing to buy crypto or move money over blockchain networks. It is SoFi's fifth crypto-related product in under a year, a sign of banks tokenizing deposits, though the product itself is a yield vehicle rather than a crypto price catalyst.
Narrative history
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20M AGOCrypto Briefing · Score 55 · via SoFi, SoFi launches
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1H AGOYou’re reading thisSoFi launches tokenized deposit paying 4.40% APY with FDIC insuranceBitcoin.com News · Score 35
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3H AGOCointelegraph · Score 55 · via SoFi, tokenized deposit
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4H AGOThe Defiant · Score 45 · via SoFi, APY
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4H AGODecrypt · Score 55 · via SoFi, FDIC insurance
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4H AGOThe Block · Score 55 · via SoFi, SoFi launches
