SoFi Begins Rolling Out Interest-Earning Tokenized Deposits
By PYMNTS
AI summary of the source article
SoFi Technologies is rolling out SoFi Earn (SOFIE) tokenized deposits for SoFi Crypto members. Each SOFIE token represents $1 held on deposit at SoFi Bank and is FDIC-insured up to applicable limits.
Why it matters
The product "enables SoFi Crypto members to earn interest while keeping their funds accessible when needed."
Key facts
- SoFi Technologies is introducing SoFi Earn (SOFIE) tokenized deposits for SoFi Crypto members.
- The product allows users to earn interest while keeping funds accessible when needed.
- Each SOFIE token represents $1 deposited at SoFi Bank and is FDIC-insured up to applicable limits.
Source excerpt · PYMNTS
SoFi Technologies is rolling out a tokenized deposit for consumers that enables SoFi Crypto members to earn interest while keeping their funds accessible when needed, the company said in a Thursday (Oct. 22) press release. Each SoFi Earn (SOFIE) tokenized deposit represents $1 held on deposit at SoFi Bank and is FDIC-insured up to applicable […] The post SoFi Begins Rolling Out Interest-Earning To…