SoFi launches SOFIE tokenized deposit with 4.4% APY, FDIC insurance

The notable element here is the pairing of FDIC insurance with an on-chain token and a conversion path to a stablecoin — a structure that tries to bridge bank-deposit safety and crypto-native rails rather than choosing one. It matters most for stablecoin issuers and yield products competing for the same dollar balances, since an insured wrapper changes the risk pitch. Whether the insurance and the SoFiUSD conversion hold up operationally at scale, and how regulators treat a tokenized deposit that behaves like a yield instrument, are the open questions worth watching.