SoFi Introduces Tokenized Deposit SOFIE with 4.4% APY and Stablecoin Conversion Option
SoFi launches SOFIE, a tokenized deposit product offering FDIC-insured 4.4% APY and the flexibility to convert into a stablecoin.
SoFi launches SOFIE, a tokenized deposit product offering FDIC-insured 4.4% APY and the flexibility to convert into a stablecoin. This is an original Token Times brief synthesising 2 outlets (Decrypt, The Block), with their figures cross-checked, plus live market data, as of Thu, 22 Oct 2026 12:45:01 UTC.
This development bridges traditional banking and crypto, offering users FDIC protection and high yield while providing a pathway to stablecoin liquidity, potentially attracting new users to the crypto ecosystem.
- SOFIE token represents $1 at SoFi Bank with 4.4% APY and FDIC insurance.
- Users can convert SOFIE tokens to SoFiUSD stablecoin.
- Product aims to merge traditional banking with crypto benefits.
Multiple outlets, including Decrypt and The Block, confirm that SoFi has launched SOFIE, a tokenized deposit product offering a 4.4% APY and FDIC insurance. The outlets agree that SOFIE tokens can be converted into SoFiUSD, a stablecoin. However, The Block provides a more detailed description of the conversion process, while Decrypt emphasizes the FDIC insurance aspect.
SoFi has introduced SOFIE, a tokenized deposit product that offers a 4.4% annual percentage yield (APY) and FDIC insurance. Each SOFIE token represents $1 deposited at SoFi Bank, combining the security of traditional banking with the flexibility of cryptocurrency.
The product is designed to provide users with the benefits of both worlds: the safety and yield of a bank deposit, along with the liquidity and utility of a stablecoin. Users can convert their SOFIE tokens into SoFiUSD, a stablecoin, offering them a seamless transition between traditional and digital finance.
Decrypt and The Block both report that the SOFIE token offers a 4.4% APY, a figure that stands out in the current low-yield environment. The Block adds that the conversion to SoFiUSD is a key feature, providing users with the ability to easily move between the traditional banking system and the crypto market.
This launch comes at a time when the total crypto market cap is $2.81 trillion, with the overall market experiencing a broad downturn. 
Bitcoin, for instance, is down 2.10% in the last 24 hours. The Fear & Greed Index currently stands at 68, indicating a state of 'Greed' among investors.
The introduction of SOFIE could attract more users to the crypto space by offering a familiar, FDIC-insured product with the added benefits of tokenization and stablecoin conversion. It remains to be seen how this product will perform in the market and whether other financial institutions will follow suit with similar offerings.
1 key figure independently matched across 2 outlets reporting this story.
Token Times extracts the figures each outlet reports and flags the ones that agree. Numbers cited by only one outlet are attributed in the brief, not shown as corroborated.
Figures and sectors in this story, checked live against on-chain aggregators · October 22, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
SoFi Introduces Tokenized Deposit SOFIE with 4.4% APY and St — questions & answers
What is the APY for SoFi's SOFIE token?
The SOFIE token offers a 4.4% APY.
Can SOFIE tokens be converted to a stablecoin?
Yes, SOFIE tokens can be converted to SoFiUSD, a stablecoin.
What is the significance of FDIC insurance for SOFIE?
FDIC insurance provides users with protection for their deposits, similar to traditional bank accounts.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Decrypt, The Block, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.