SoFi has launched SoFi Earn (SOFIE), which it describes as the first tokenized deposit issued by a U.S. national bank for consumers. Each token represents $1 held on deposit at SoFi Bank and earns a 4.40% annual percentage yield, with FDIC insurance up to applicable limits. Holders can convert SOFIE one-to-one into SoFiUSD to buy cryptocurrency in the app or transfer dollars over blockchain rails around the clock. SoFi estimates that roughly $64 billion, or 21% of the stablecoin market, sits idle in forgotten or inactive wallets.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
