SoFi Launches Tokenized Deposit for Crypto
SoFi Technologies has introduced a tokenized deposit product allowing customers to earn 4.4 percent annual interest on cash set aside for crypto purchases. The FDIC-insured account aims to capture idle digital asset funds while offering bank-grade regulatory protections.
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SoFi Technologies launched a tokenized deposit product offering 4.4% annual interest on idle crypto cash, backed by Federal Deposit Insurance Corporation insurance of up to $250,000 per depositor. The launch targets funds historically parked in stablecoins, which faced yield restrictions under the GENIUS Act. Banks are stepping in to capture digital asset liquidity with regulated alternatives as traditional finance merges with on-chain infrastructure.
