{
  "id": 16057333,
  "title": "SoFi becomes first consumer bank to launch tokenized deposits, offers 4.4% interest",
  "url": "https://urgent.news/2026/10/22/sofi-becomes-first-consumer-bank-to-launch-tokenized-deposits-offers",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-22T12:00:00.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/10/22/sofi-tokenized-deposits/"
  },
  "original_language": "en",
  "account": "On Thursday, personal finance company SoFi introduced tokenized deposits, a product called SoFi Earn or SOFIE, allowing holders to earn a 4.4% interest rate and enjoy FDIC protection. This move follows the ongoing discussion about tokenized deposits and stablecoins, digital dollar equivalents backed by different regulatory regimes and use cases. Unlike stablecoins like USDC, which exist outside the U.S. banking system and are ineligible for interest or FDIC backing, tokenized deposits can only be utilized for money transfers between users with a relationship with the issuing bank. SoFi, a federally chartered bank, is the first consumer bank to offer these deposits. CEO Anthony Noto explained that SoFi Earn appeals to crypto users seeking yield, allowing them to park their money in stablecoins and earning interest simultaneously. He also noted that crypto companies can easily transfer funds to Mastercard and other service providers with accounts at SoFi. The launch of SoFi Earn is seen as an extension of SoFi's financial services, enabling users to switch between traditional ACH and wire transfers and blockchain options within a single interface. The announcement comes amid a setback for crypto legislation, the Clarity Act, which was blocked over a provision allowing interest payments on stablecoins.",
  "summary": "The offering comes amid a growing debate over the merits of stablecoins vs tokenized deposits.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}