SoFi launches interest bearing tokenized deposit SoFi Earn BlockBeats News: On October 22nd, US fintech company SoFi Technologies announced the launch of SoFi Earn, product code SOFIE, which is an interest bearing tokenized deposit with an annualized yield of 4.4% and is insured by the Federal Deposit Insurance Corporation (FDIC) within applicable limits. SoFi stated that this is the first time that National Bank of the United States has directly provided tokenized deposits to individual customers. Each SOFIE corresponds to a $1 deposit in SoFi Bank, and members can exchange it for stablecoin SoFiUSD at a 1:1 ratio through SoFi Crypto, which can be used to purchase cryptocurrencies or transferred to supported external wallets 24/7. Deposits continue to accrue interest before exchange, and SoFiUSD, like other stablecoins, is not a deposit insured by FDIC. SoFi is expected to complete full deployment to crypto members in November. The company will launch consumer oriented encrypted trading in November 2025, followed by the launch of SoFiUSD. In May of this year, it joined the consumer app, and SoFi Crypto currently supports trading of over 40 types of encrypted assets. CEO Anthony Noto stated that he hopes funds will continue to generate returns before they are used, combining the returns and protection of bank deposits with the speed and utility of digital assets.