SoFi targets idle crypto cash with interest-bearing tokenized deposit
SoFi Technologies has launched an innovative tokenized deposit product that offers an attractive 4.2% annual interest rate. Funds deposited are insured by the Federal Deposit Insurance Corporation for amounts up to $250,000 per depositor. This strategic move enables customers to prepare for crypto acquisitions while still earning interest, rather than letting cash sit idle.
Key Takeaways
- SoFi Technologies has launched an innovative tokenized deposit product that offers an attractive 4.2% annual interest rate.
- Funds deposited are insured by the Federal Deposit Insurance Corporation for amounts up to $250,000 per depositor.
- This strategic move enables customers to prepare for crypto acquisitions while still earning interest, rather than letting cash sit idle.
SoFi Technologies has launched an innovative tokenized deposit product that offers an attractive 4.2% annual interest rate. Funds deposited are insured by the Federal Deposit Insurance Corporation for amounts up to $250,000 per depositor. This strategic move enables customers to prepare for crypto acquisitions while still earning interest, rather than letting cash sit idle.
Original Publisher Attribution
This summary was curated from Economic Times.