SoFi Launches Tokenized Deposit SOFIE Earning 4.4% APY

The notable move here is the packaging: SOFIE wraps bank-deposit economics and FDIC protection into a token format, directly targeting the gap that plain stablecoins leave open on insured backing. That places it at the intersection of regulated banking and tokenized cash, a space where the credibility of the issuer's bank charter does much of the work. The convertible-to-stablecoin feature hints at interoperability ambitions rather than a closed system. Whether yield-bearing, insured deposit tokens gain traction against both conventional stablecoins and money-market products is the open question worth tracking.