SoFi Technologies has launched SoFi Earn (SOFIE), a tokenized deposit at SoFi Bank paying a variable 4.4% annual percentage yield with no minimum balance requirement. Each SOFIE represents $1 deposited at SoFi Bank and can be converted one-for-one into SoFiUSD, the bank's dollar-pegged stablecoin, to buy crypto in the app or send funds to supported external wallets. SOFIE deposits qualify for FDIC coverage up to $250,000 per depositor, per insured bank, for each account ownership category, while SoFiUSD carries no FDIC insurance. The article also notes a final rule from the U.S. Office of the Comptroller of the Currency covering payment stablecoin issuance and some custody activities, with the GENIUS Act framework taking effect in mid-January. SoFi says SOFIE is rolling out to SoFi Crypto members through November and is accessed through their SoFi Crypto account.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Cointelegraph ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
BTC/USDT
▲ Likely positiveBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/21/2026 | 84,093.42 |
| Change that session | +1.28% |
ETH/USDT
▲ Likely positiveEthereum
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $294.2B |
| Close on 10/21/2026 | 2,473.76 |
| Change that session | +1.00% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- VersaBank Initiates Commercial Phase of Tokenized Deposit Program in the United States
VersaBank (TSX and NASDAQ: VBNK) said it has started the commercial phase in the United States for its tokenized deposits, in full compliance with US federal banking regulations. VersaBank USA will issue its Real Bank Tokenized Deposits, branded VUSD™, which are interest-paying, US-dollar deposits eligible for FDIC insurance and expected to be the first tokenized deposits broadly available to consumers and businesses of all sizes. The bank plans to list VUSD™ on major digital asset exchanges as soon as feasible and initially invest in zero risk-weighted US treasury bills, which it expects to support growth of its Structured Receivable Program in the US. The company also aims to offer its tokenized deposit technology to community and regional US banks, and says the technology can freeze, seize and burn deposits used for illegal purposes.
- JPMorgan Expands Access To JPM Coin Among Institutional Investors
JPMorgan Chase (NYSE: $JPM), the largest U.S. bank, is expanding institutional access to JPM Coin, its year-old crypto token, by bringing it to the Ethereum network. The token is currently available only on Base, the Layer-2 blockchain run by Coinbase, and JPMorgan says Ethereum offers more liquidity and wide use by institutions, though no launch date has been set. JPM Coin represents dollar deposits at the bank and can help institutional clients make blockchain payments, settle trades or back tokenized assets. JPMorgan's Kinexys network already handles more than $7 billion a day in payments, and the bank plans a shared network for tokenized U.S. deposits with a dozen other banks. JPM stock is up 12% over the last year, trading at $337.97 per share.
- JPMorgan takes JPM Coin to Ethereum for institutional clients: Report
JPMorgan is reportedly expanding its JPM Coin deposit token to Ethereum, allowing eligible institutional clients to make payments and settle tokenized asset transactions, Bloomberg reported on Monday. JPM Coin represents US dollar deposits held at JPMorgan and lets clients transfer funds within seconds, around the clock. Emma Landriault, global head of Kinexys Labs, said crypto companies could use the token for blockchain payments, while financial institutions could use it to settle trades and post collateral. JPMorgan chose Ethereum for its liquidity and existing client use, and although the tokens are issued on public networks, JPM Coin remains restricted to approved institutional participants. The move follows the November 2025 rollout on Base, an Ethereum layer-2 network built by Coinbase, and a plan to bring JPM Coin to the Canton Network announced in January.
- International Business : Global stocks nosedive as Meta dents AI optimism
Global stocks retreated as tech earnings failed to ease concerns about the AI outlook, with MSCI's All-World index set for its largest daily fall in two weeks, down 0.4 per cent. Meta beat third-quarter revenue expectations, but its plan to issue non-voting stock revived worries about its mounting capital commitments, and a New Mexico judge ordered it to pay a $25 billion penalty in a data privacy case. Brent crude rose nearly 3% to $112 a barrel, near a five-month high, after more Houthi attacks in Saudi Arabia raised supply risks. Investors moved into government bonds, pushing the US 10-year yield down to 5.05%, below France's for the first time in 13 years, while French yields have climbed above 5% amid concerns over social unrest and debt. The France-Germany 10-year spread reached 177.7 basis points, its widest since 2011, while gold fell 1.8% to $4,070 an ounce.
- Putin says Russia and Ukraine are close enough to reach a deal
In an interview with Vesti on October 22, President Vladimir Putin said Russia and Ukraine had come close enough to reach an agreement. He said trilateral talks among Moscow, Washington and Kyiv would focus on security guarantees for both countries after a peace deal, and that Russia had agreed with the US to resume them. US envoys Steve Witkoff and Jared Kushner are expected in Moscow in late October, as Washington hopes for a diplomatic breakthrough before the midterm elections. Fighting continues, with Russia's Defence Ministry saying it struck the Antonov aircraft plant in Kyiv, while President Zelensky said Ukraine is ready to negotiate, likely early next month. Talks remain deadlocked over territory, as Russia demands Ukraine give up all of Donbas, which Kyiv rejects.
- Fed Preview: On Hold in October, Hiking Resumes Later
Related markets
Latest news
- Bank Profits Surge
The 9-month 2026 results show many banks continued to grow profits, with some posting record quarterly earnings. VPBank's pre-tax profit reached nearly VND 30,000 billion, up nearly 47%, equal to its full-year 2025 result and about 72.4% of its 2026 plan; Q3 pre-tax profit topped VND 11,000 billion. Techcombank posted VND 28,900 billion (up 23.7%), while LPBank reported VND 10,421 billion (up nearly 9%). SSI forecasts pre-tax profit of its monitored banks to rise 19.5% in 2026 before slowing to 15.4% in 2027, pressured by narrowing net interest margins and rising credit risk provisions. It also expects system-wide credit growth of 16-17% in 2027 and 17.9% for the monitored banks.
- World's Largest Gold Fund Dumps Over 10 Tonnes of Gold as Prices Slide
SPDR Gold Trust, the world's largest gold fund, continued net selling of nearly 12 tonnes of gold in the 22/10 session, bringing total sales over 2 sessions to nearly 15 tonnes and cutting its holdings to about 1,046 tonnes. Spot gold fell more than 2.8% to around USD 4,025 per ounce at the close of 22/10, and briefly dipped below USD 4,000 per ounce in the morning session of 23/10. Tensions in the Middle East pushed crude oil prices higher, raising concerns about inflation and further Fed tightening, and gold has still not attracted sustained safe-haven demand even as US Treasury yields fell. US September CPI rose 0.6% month on month and 3.7% year on year, while PPI rose 1.3% and 6.3%. Markets price about an 84% chance the Fed holds rates steady at its 27-28/10 meeting and a 16% chance of a 25 basis-point increase; September PCE data due on 29/10 is the next key factor to watch.
- Gold Prices Continue to Fall
On the morning of 23/10, domestic gold prices kept falling, with SJC bar prices varying by seller and the premium over world gold widening. Công ty TNHH Vàng bạc đá quý Sài Gòn listed SJC bars at VND 139-142 million per tael (buy-sell), down VND 300,000; Phú Quý was at VND 138-141.8 million, down VND 500,000; and Mi Hồng at VND 140-141.5 million, down VND 800,000. Gold rings also fell by varying amounts, with DOJI at VND 138-142 million and Phú Quý at VND 138-141 million per tael. World gold dropped USD 129 to around USD 3,992 per ounce, equal to about VND 125.3 million per tael, leaving SJC bars about VND 16.7 million per tael above the world price. The State Bank's central rate was set at 25,627 VND/USD, down 5 dong, while Vietcombank quoted 25,660-26,040 VND/USD (buy-sell).
- Company Linked to Billionaire Pham Nhat Vuong Announces Major Good News
VEFAC (ticker VEF), a Vingroup subsidiary, posted Q3 net revenue of nearly VND 77 billion, up 67% year on year, but a gross loss of about VND 27 billion as cost of sales from its exhibition business exceeded revenue. Q3 profit rose mainly thanks to a gross gain of about VND 65 billion from transferring some schools in a project to a partner, while financial income reached over VND 388 billion, mostly from loan and investment income. For the first nine months of 2026, after-tax profit was nearly VND 865 billion, down about 94% from VND 15,418 billion in the same period of 2025, as the prior year included large gains from transferring part of the Vinhomes Global Gate project. As of 30/9/2026, total assets stood at over VND 31,905 billion, up 36% from the start of the year, while total liabilities exceeded VND 24,364 billion, with short-term customer advances rising from VND 411 billion to over VND 8,373 billion.
- Lotte and Phat Dat Officially Break Ground on VND 60,000 Billion Mega Project in Thu Thiem 'Golden Land'
A joint venture between Lotte Group (South Korea) and Phát Đạt (HoSE: PDR) officially broke ground on 23/10 on Lotte Eco Smart City Thu Thiem in the Thu Thiem New Urban Area, HCMC, with total investment of about VND 60,000 billion. The project covers nearly 7.5 ha and will combine Grade A offices, retail, services, accommodation and housing, adjoining the central plaza and central lake of Thu Thiem. Phát Đạt holds 35% of Lotte Properties HCMC, the project developer, and will develop the housing blocks along with two towers (2-1 and 2-3) with about 219,722 m2 of floor area, while Lotte handles block 2-5. Lotte Properties HCMC paid VND 17,569 billion in land-use fees on 31/7/2026, and Phát Đạt completed its VND 7,666 billion payment to take its 35% stake. MB is funding all of Phát Đạt's capital contribution, while VietinBank and BIDV also support the project.
- International Business : US jobless claims near 57 - year lows
The number of Americans filing new unemployment benefit claims fell to near 57-year lows last week, pointing to low layoffs and suggesting job growth may have picked up in October after weak September payrolls. Economists cite strong profit growth, robust domestic demand, a shrinking workforce from retirements and immigration curbs as reasons workers are being shielded from layoffs, though tighter financial conditions and higher rates from the Middle East conflict could weigh on the labour market next year. Initial claims fell 6,000 to a seasonally adjusted 194,000 for the week ended October 17, below the 200,000 forecast by economists polled by Reuters, while the four-week average dropped to 197,750, its lowest since 1969. The number of people receiving benefits after their first week rose 25,000 to a still-low 1.728 million in the week ended October 10. Economists still describe the labour market as 'low-hire, low-fire', with uncertainty from the war and tariffs stymying hiring.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.