The product combines interest-bearing deposits with the transfer capabilities of digital assets, allowing consumers to keep earning on funds while waiting to use them.
SoFi Technologies has launched SoFi Earn (SOFIE), a tokenized bank deposit that lets consumers earn interest on digital dollars before converting them into a stablecoin for crypto purchases or blockchain transfers.
SOFIE is SoFi’s first and only consumer tokenized deposit issued by a US national bank, the company said Thursday. The launch is the fifth new crypto offering SoFi has introduced in less than a year.
The product aims to address the limitations of digital dollars that remain in stablecoin wallets without generating returns. Federal Reserve research estimates that approximately $64 billion, representing about 21% of the stablecoin market, is held in rarely used, forgotten or inactive wallets.
While many stablecoins do not pay interest and are not FDIC-insured, SOFIE is structured as a separate bank deposit that earns interest and carries FDIC coverage subject to applicable limits. SoFi said consumers could, for example, hold $5,000 in a SOFIE deposit account while saving for a crypto purchase, earn the applicable APY, and later convert the funds to SoFiUSD for trading or transfers to supported external wallets.
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SOFIE is the latest addition to SoFi’s effort to connect regulated banking with blockchain-based payments and digital assets. The company launched consumer crypto trading in November 2025, enabling members to buy, sell and hold more than 40 cryptocurrencies alongside other financial services in its app.
The following month, it introduced SoFiUSD, which it described as the first stablecoin issued by a US national bank, for round-the-clock dollar transfers and settlement. The stablecoin is already being used to settle SoFi’s entire card program through Mastercard ’s global payments network.