Ledger Insights· Ledger Insights·· 19 hours agoSelectedAI score70
SoFi launches SOFIE, a retail tokenized deposit with a floating 4.4% interest rate
SoFi launches retail tokenized deposits paying 4.4%
AI brief
AI-assisted source summary · not independently verified. Content standards
SoFi launched SoFi Earn (SOFIE), a tokenized deposit provided by SoFi Bank, with FDIC insurance and a floating 4.4% interest rate. Customers can convert it to SoFi USD when they need to spend or move funds onchain; the product is gradually rolling out to SoFi Crypto members through November.
Why it matters
SOFIE links an interest-bearing deposit with a floating yield to the stablecoin conversion needed for onchain transfers, and its 4.4% rate is also higher than the federal funds rate cited in the article.
Source:Ledger Insights · ledgerinsights.com