Definition and Types of SOFI Coin
The term "SOFI Coin" does not refer to a single cryptocurrency, but rather to digital assets associated with the American fintech company SoFi Technologies. Currently, there are two main forms:
- SoFiUSD (SOFID): This is a US dollar stablecoin issued by SoFi Bank, N.A., designed to provide 24/7 settlement capabilities and programmable USD liquidity, operating within the US banking regulatory framework.
- SoFi Earn (SOFIE): This is a tokenized deposit product launched by SoFi in October 2026. It offers an annual percentage yield (APY) of 4.40% and is insured by the Federal Deposit Insurance Corporation (FDIC) within applicable limits. Each SOFIE token represents 1 USD deposited in SoFi Bank, which users can redeem 1:1 for SoFiUSD to purchase cryptocurrencies within the SoFi app or transfer via blockchain networks. It is important to note that the SoFiUSD stablecoin itself is not covered by FDIC deposit insurance.
It is important to clarify that these digital assets are distinct from the stock of SoFi Technologies (Nasdaq: SOFI). As of October 21-23, 2026, SoFi Technologies' stock price fluctuated between $14.57 and $14.90, with a market capitalization ranging from approximately $18.83 billion to $19.24 billion.
SoFi's Cryptocurrency Services and Trading Channels
SoFi Technologies has shown an active presence in the digital asset space. The company relaunched its consumer-facing cryptocurrency trading services in November 2025, after a suspension in 2023. SoFi is the first and only nationally chartered bank to offer cryptocurrency trading to retail customers. SoFi Earn is the company's fifth crypto-related product launched in less than a year.
Users can trade cryptocurrencies 24/7 within the SoFi platform, free from traditional market trading hours. Currently, SoFi offers over 40 cryptocurrencies for trading on its platform. Users can check relevant developments and real-time market data on information platforms such as Svmuu.
Regulation and Market Views
SoFi Bank, N.A. is regulated by the Office of the Comptroller of the Currency (OCC). Interpretive letters (1183 and 1184) issued by the OCC permit nationally chartered banks to provide cryptocurrency custody and execution services, which provided the regulatory basis for SoFi to restart crypto trading.
Anthony Noto, CEO of SoFi Technologies, believes that blockchain technology will fundamentally transform the global financial industry. Market views on SoFi's cryptocurrency business vary: some analyses suggest it will bring significant revenue growth for the company; others point out a fundamental difference between purchasing cryptocurrencies on SoFi and owning crypto assets through self-custody, as SoFi holds private keys and controls withdrawals, and its fees may be higher than most independent cryptocurrency exchanges.
