SoFi launches retail tokenized deposits with SoFi Earn

October 22, 2026

SoFi has launched SoFi Earn, which it bills as the first tokenized deposit from a U.S. national bank available directly to retail customers. The product pays 4.40% APY, carries FDIC insurance, and is convertible 1:1 into SoFiUSD for crypto purchases or blockchain transfers.

SoFi Earn positions a traditional bank deposit as an onchain-transferable token while keeping its insured-deposit character.
The launch marks a consumer-facing step for tokenized deposits, which banks have so far pursued mainly with institutional clients.

Sources

JUST IN: @SoFi launches SoFi Earn, billed as the first tokenized deposit from a U.S. national bank available directly to retail customers, earning 4.40% APY with FDIC insurance and convertible 1:1 into SoFiUSD for crypto purchases or blockchain transfers. https://t.co/dJCOxRysHAx.com ↗

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SoFi launches retail tokenized deposits with SoFi Earn — Outposts