SoFi Bank has launched a new product called SoFi Earn, a tokenized deposit account offering an attractive 4.40% annual percentage yield (APY). This product combines traditional banking security with innovative crypto features, including FDIC insurance coverage for deposits.
According to CoinTelegraph, SoFi Earn allows users to convert their funds into stablecoins at any time, 24 hours a day, seven days a week. This integration of stablecoin conversion within a bank-backed deposit product represents a notable move bridging conventional finance and digital assets.
For Japanese investors, who are increasingly exploring both crypto and traditional financial products, SoFi Earn’s model highlights growing global trends in blending regulated banking services with cryptocurrency accessibility.